My child won’t be able to manage their finances due to their disability – what shall I do?
If your child is approaching adulthood and has a mental or physical impairment that requires your continued support in managing their accounting and financial needs, you may need to make an application for Deputyship to the Court of Protection.
As a parent, it has been your role to manage your child’s life. From booking doctor’s appointments to opening a bank account, you may have been there every step of the way for them. However, once they reach adulthood, it is considered their responsibility to manage these decisions on their own.
But what happens when your child turns 18 and they have a disability that prevents them from being able to make these decisions on their own?
A deputyship order issued by the Court of Protection allows you to formally manage your child’s affairs after they turn 18 years old. Organisations such as local authorities and banks require formal permission before talking to you about your child’s accounting needs and finances – this is where the deputyship is required.
For example, you will be able to ensure education fees are paid, care packages are funded and any investments are looked after. You may also be able to seek permission to buy and sell property on their behalf if the order permits.
An application is especially worth considering if your child has a significant nest egg of savings or is likely to receive a substantial sum of money in the near future through inheritance or compensation.
You may wish to consider asking the Department of Work and Pensions (DWP) to make you an appointee for any benefits they may be entitled to. This will allow you to make, amend and cancel their benefits but not spend the benefits on their behalf.
We can advise and guide you through the process of the deputyship application, as well as what happens after you are appointed.