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Wales Online
Wales Online
National
Neil Shaw

80,000 young people unable to access £210million cash windfall

80,000 young people are unable to get access to a cash windfall which is worth a total of 10s of millions of pounds, according to a new report. The money was put in Child Trust Funds for children born between 2002 and 2011 and in some cases accounts are now up to £75,000.

But if young people aged 18 and over are judged not to have the capacity to make financial decisions themselves the money is locked away - unless court action is taken. Just 15 cases went to court in one year.

A report by Renaissance Legal, a firm that supports families through the process, seen by BBC News, suggests there are more than 80,000 accounts that cannot be accessed without going through the Court of Protection.

By 2029 there could be up to £210m locked away.

Lord Blunkett told the BBC he and his colleagues did not foresee how the Mental Capacity Act would make it difficult for families to access the money.

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