Guest guest Posted January 10, 2012 Report Share Posted January 10, 2012 Hi Nina, I just want one for presents and because he has been given some money and I want to put it in an ISA for him. I'm also keen to make sure we have the power to make key decisions over his future once he turns 18 - it's something I know bugger all about, but want to make sure I get it right. Jane x We looked into this and you do need power of attorney ...... but what are the benefits of having this account? Unless I have missed something I can't see the point of having an account in my son's name cos he can't operate it and cos after a certain amount it will affect his benefits. Guess you would want one if someone gives him a cheque as a gift but I just ask them to write the cheque to me . His benefits are managed by me and go into my account. Nx > > > > My son is 17 years old. He has always had a children's saving account > but we tried to open an adult savings account for him today - we have > been told that we would need power of attorney to do this as he wouldn't > be able to sign etc., Has anyone come across this and has anyone > already done this? - I'm curious and a little concerned that it might be > something we should do for the future. Any advice would be appreciated. > > Thanks, > Quote Link to comment Share on other sites More sharing options...
Guest guest Posted January 10, 2012 Report Share Posted January 10, 2012 Hi Nina, I just want one for presents and because he has been given some money and I want to put it in an ISA for him. I'm also keen to make sure we have the power to make key decisions over his future once he turns 18 - it's something I know bugger all about, but want to make sure I get it right. Jane x We looked into this and you do need power of attorney ...... but what are the benefits of having this account? Unless I have missed something I can't see the point of having an account in my son's name cos he can't operate it and cos after a certain amount it will affect his benefits. Guess you would want one if someone gives him a cheque as a gift but I just ask them to write the cheque to me . His benefits are managed by me and go into my account. Nx > > > > My son is 17 years old. He has always had a children's saving account > but we tried to open an adult savings account for him today - we have > been told that we would need power of attorney to do this as he wouldn't > be able to sign etc., Has anyone come across this and has anyone > already done this? - I'm curious and a little concerned that it might be > something we should do for the future. Any advice would be appreciated. > > Thanks, > Quote Link to comment Share on other sites More sharing options...
Guest guest Posted January 10, 2012 Report Share Posted January 10, 2012 Hi Nina, I just want one for presents and because he has been given some money and I want to put it in an ISA for him. I'm also keen to make sure we have the power to make key decisions over his future once he turns 18 - it's something I know bugger all about, but want to make sure I get it right. Jane x We looked into this and you do need power of attorney ...... but what are the benefits of having this account? Unless I have missed something I can't see the point of having an account in my son's name cos he can't operate it and cos after a certain amount it will affect his benefits. Guess you would want one if someone gives him a cheque as a gift but I just ask them to write the cheque to me . His benefits are managed by me and go into my account. Nx > > > > My son is 17 years old. He has always had a children's saving account > but we tried to open an adult savings account for him today - we have > been told that we would need power of attorney to do this as he wouldn't > be able to sign etc., Has anyone come across this and has anyone > already done this? - I'm curious and a little concerned that it might be > something we should do for the future. Any advice would be appreciated. > > Thanks, > Quote Link to comment Share on other sites More sharing options...
Guest guest Posted January 10, 2012 Report Share Posted January 10, 2012 But you can only get PoA is the child has mental capacity. He can have £8K before affecting benefits but like you we run an account for him in our name. The only benefit is not paying tax on interest but then there is bugger all interest to be had these days anyways especially under 18 accounts Mx We looked into this and you do need power of attorney ..... but what are the benefits of having this account?Unless I have missed something I can't see the point of having an account in my son's name cos he can't operate it and cos after a certain amount it will affect his benefits. Guess you would want one if someone gives him a cheque as a gift but I just ask them to write the cheque to me . His benefits are managed by me and go into my account.Nx>> > > My son is 17 years old. He has always had a children's saving account > but we tried to open an adult savings account for him today - we have > been told that we would need power of attorney to do this as he wouldn't > be able to sign etc., Has anyone come across this and has anyone > already done this? - I'm curious and a little concerned that it might be > something we should do for the future. Any advice would be appreciated.> > Thanks,> Quote Link to comment Share on other sites More sharing options...
Guest guest Posted January 10, 2012 Report Share Posted January 10, 2012 But you can only get PoA is the child has mental capacity. He can have £8K before affecting benefits but like you we run an account for him in our name. The only benefit is not paying tax on interest but then there is bugger all interest to be had these days anyways especially under 18 accounts Mx We looked into this and you do need power of attorney ..... but what are the benefits of having this account?Unless I have missed something I can't see the point of having an account in my son's name cos he can't operate it and cos after a certain amount it will affect his benefits. Guess you would want one if someone gives him a cheque as a gift but I just ask them to write the cheque to me . His benefits are managed by me and go into my account.Nx>> > > My son is 17 years old. He has always had a children's saving account > but we tried to open an adult savings account for him today - we have > been told that we would need power of attorney to do this as he wouldn't > be able to sign etc., Has anyone come across this and has anyone > already done this? - I'm curious and a little concerned that it might be > something we should do for the future. Any advice would be appreciated.> > Thanks,> Quote Link to comment Share on other sites More sharing options...
Guest guest Posted January 10, 2012 Report Share Posted January 10, 2012 You can only have an ISA if you are over 18 Hi Nina, I just want one for presents and because he has been given some money and I want to put it in an ISA for him. I'm also keen to make sure we have the power to make key decisions over his future once he turns 18 - it's something I know bugger all about, but want to make sure I get it right.Janex We looked into this and you do need power of attorney ..... but what are the benefits of having this account?Unless I have missed something I can't see the point of having an account in my son's name cos he can't operate it and cos after a certain amount it will affect his benefits. Guess you would want one if someone gives him a cheque as a gift but I just ask them to write the cheque to me . His benefits are managed by me and go into my account.Nx>> > > My son is 17 years old. He has always had a children's saving account > but we tried to open an adult savings account for him today - we have > been told that we would need power of attorney to do this as he wouldn't > be able to sign etc., Has anyone come across this and has anyone > already done this? - I'm curious and a little concerned that it might be > something we should do for the future. Any advice would be appreciated.> > Thanks,> Quote Link to comment Share on other sites More sharing options...
Guest guest Posted January 10, 2012 Report Share Posted January 10, 2012 You can only have an ISA if you are over 18 Hi Nina, I just want one for presents and because he has been given some money and I want to put it in an ISA for him. I'm also keen to make sure we have the power to make key decisions over his future once he turns 18 - it's something I know bugger all about, but want to make sure I get it right.Janex We looked into this and you do need power of attorney ..... but what are the benefits of having this account?Unless I have missed something I can't see the point of having an account in my son's name cos he can't operate it and cos after a certain amount it will affect his benefits. Guess you would want one if someone gives him a cheque as a gift but I just ask them to write the cheque to me . His benefits are managed by me and go into my account.Nx>> > > My son is 17 years old. He has always had a children's saving account > but we tried to open an adult savings account for him today - we have > been told that we would need power of attorney to do this as he wouldn't > be able to sign etc., Has anyone come across this and has anyone > already done this? - I'm curious and a little concerned that it might be > something we should do for the future. Any advice would be appreciated.> > Thanks,> Quote Link to comment Share on other sites More sharing options...
Guest guest Posted January 10, 2012 Report Share Posted January 10, 2012 You can only have an ISA if you are over 18 Hi Nina, I just want one for presents and because he has been given some money and I want to put it in an ISA for him. I'm also keen to make sure we have the power to make key decisions over his future once he turns 18 - it's something I know bugger all about, but want to make sure I get it right.Janex We looked into this and you do need power of attorney ..... but what are the benefits of having this account?Unless I have missed something I can't see the point of having an account in my son's name cos he can't operate it and cos after a certain amount it will affect his benefits. Guess you would want one if someone gives him a cheque as a gift but I just ask them to write the cheque to me . His benefits are managed by me and go into my account.Nx>> > > My son is 17 years old. He has always had a children's saving account > but we tried to open an adult savings account for him today - we have > been told that we would need power of attorney to do this as he wouldn't > be able to sign etc., Has anyone come across this and has anyone > already done this? - I'm curious and a little concerned that it might be > something we should do for the future. Any advice would be appreciated.> > Thanks,> Quote Link to comment Share on other sites More sharing options...
Guest guest Posted January 10, 2012 Report Share Posted January 10, 2012 For that you need to be Court of Protection 'deputy'. I looked into it a bit more after you post reminded me, its going to cost upwards of £600 to get it...................bloody governmeht get us every which way Mx I'm also keen to make sure we have the power to make key decisions over his future once he turns 18 - it's something I know bugger all about, but want to make sure I get it right. Quote Link to comment Share on other sites More sharing options...
Guest guest Posted January 10, 2012 Report Share Posted January 10, 2012 For that you need to be Court of Protection 'deputy'. I looked into it a bit more after you post reminded me, its going to cost upwards of £600 to get it...................bloody governmeht get us every which way Mx I'm also keen to make sure we have the power to make key decisions over his future once he turns 18 - it's something I know bugger all about, but want to make sure I get it right. Quote Link to comment Share on other sites More sharing options...
Guest guest Posted January 10, 2012 Report Share Posted January 10, 2012 For that you need to be Court of Protection 'deputy'. I looked into it a bit more after you post reminded me, its going to cost upwards of £600 to get it...................bloody governmeht get us every which way Mx I'm also keen to make sure we have the power to make key decisions over his future once he turns 18 - it's something I know bugger all about, but want to make sure I get it right. Quote Link to comment Share on other sites More sharing options...
Guest guest Posted January 10, 2012 Report Share Posted January 10, 2012 You can only have one ISA and all of us should already have one even if its only got £20 in it. Decisions like where he will live after 18 is a biggie for me, if you are not agreeing with SS they can apply CoP, sidetrack you and put them in a shithole if you are unable to look after them. Over 40's end up in ESME nursing homes, god forbid and over my dead body. If the young person is over 16, then SS more likely to challenge apparently in high cost cases, like Henry & Sam spending week in residential school, under 16 you pass under the radar I am told. I know this is scarey for those of you with small kids and hope in your veins, do not doubt I still have hope in mine or I would not be here nor getting up at night chelating but when your kid nears 16 you have to start making just in case plans Mandi x would just put the ISA in your name .I guess you have to work out how practical it is to have an account in his name.What key decisions over his future were you thinking about Jane? Quote Link to comment Share on other sites More sharing options...
Guest guest Posted January 10, 2012 Report Share Posted January 10, 2012 You can only have one ISA and all of us should already have one even if its only got £20 in it. Decisions like where he will live after 18 is a biggie for me, if you are not agreeing with SS they can apply CoP, sidetrack you and put them in a shithole if you are unable to look after them. Over 40's end up in ESME nursing homes, god forbid and over my dead body. If the young person is over 16, then SS more likely to challenge apparently in high cost cases, like Henry & Sam spending week in residential school, under 16 you pass under the radar I am told. I know this is scarey for those of you with small kids and hope in your veins, do not doubt I still have hope in mine or I would not be here nor getting up at night chelating but when your kid nears 16 you have to start making just in case plans Mandi x would just put the ISA in your name .I guess you have to work out how practical it is to have an account in his name.What key decisions over his future were you thinking about Jane? Quote Link to comment Share on other sites More sharing options...
Guest guest Posted January 10, 2012 Report Share Posted January 10, 2012 What would those plans be? I'm completely clueless as to whats out there but guessing not much, nothing? This is what pushes me to continue any intervention because I strongly suspect all the outings and fun, fun fun will end once school ends. tells me there is a young man in college pretty much as severe as who basically attends lessons where he is not really an active member of the group, he doesn't talk, stimms and yelps but it's all that's available. Post 19 is a subject we don't hear much about. Suppose it will be some kind of fight for a residential care type of provision but how do we know they wont be moved out just as soon as we are no longer around? Vicky Re: Re: off topic You can only have one ISA and all of us should already have one even if its only got £20 in it. Decisions like where he will live after 18 is a biggie for me, if you are not agreeing with SS they can apply CoP, sidetrack you and put them in a shithole if you are unable to look after them. Over 40's end up in ESME nursing homes, god forbid and over my dead body. If the young person is over 16, then SS more likely to challenge apparently in high cost cases, like Henry & Sam spending week in residential school, under 16 you pass under the radar I am told. I know this is scarey for those of you with small kids and hope in your veins, do not doubt I still have hope in mine or I would not be here nor getting up at night chelating but when your kid nears 16 you have to start making just in case plans Mandi x would just put the ISA in your name .I guess you have to work out how practical it is to have an account in his name. What key decisions over his future were you thinking about Jane? Quote Link to comment Share on other sites More sharing options...
Guest guest Posted January 10, 2012 Report Share Posted January 10, 2012 What would those plans be? I'm completely clueless as to whats out there but guessing not much, nothing? This is what pushes me to continue any intervention because I strongly suspect all the outings and fun, fun fun will end once school ends. tells me there is a young man in college pretty much as severe as who basically attends lessons where he is not really an active member of the group, he doesn't talk, stimms and yelps but it's all that's available. Post 19 is a subject we don't hear much about. Suppose it will be some kind of fight for a residential care type of provision but how do we know they wont be moved out just as soon as we are no longer around? Vicky Re: Re: off topic You can only have one ISA and all of us should already have one even if its only got £20 in it. Decisions like where he will live after 18 is a biggie for me, if you are not agreeing with SS they can apply CoP, sidetrack you and put them in a shithole if you are unable to look after them. Over 40's end up in ESME nursing homes, god forbid and over my dead body. If the young person is over 16, then SS more likely to challenge apparently in high cost cases, like Henry & Sam spending week in residential school, under 16 you pass under the radar I am told. I know this is scarey for those of you with small kids and hope in your veins, do not doubt I still have hope in mine or I would not be here nor getting up at night chelating but when your kid nears 16 you have to start making just in case plans Mandi x would just put the ISA in your name .I guess you have to work out how practical it is to have an account in his name. What key decisions over his future were you thinking about Jane? Quote Link to comment Share on other sites More sharing options...
Guest guest Posted January 10, 2012 Report Share Posted January 10, 2012 I thought that, but was told it's as soon as you get NI number by the bank  You can only have an ISA if you are over 18  In a message dated 10/01/2012 18:53:25 GMT Standard Time, jane_hogan@... writes:  Hi Nina, I just want one for presents and because he has been given some money and I want to put it in an ISA for him. I'm also keen to make sure we have the power to make key decisions over his future once he turns 18 - it's something I know bugger all about, but want to make sure I get it right. Jane x  We looked into this and you do need power of attorney ..... but what are the benefits of having this account? Unless I have missed something I can't see the point of having an account in my son's name cos he can't operate it and cos after a certain amount it will affect his benefits. Guess you would want one if someone gives him a cheque as a gift but I just ask them to write the cheque to me . His benefits are managed by me and go into my account. Nx > > > > My son is 17 years old. He has always had a children's saving account > but we tried to open an adult savings account for him today - we have > been told that we would need power of attorney to do this as he wouldn't > be able to sign etc., Has anyone come across this and has anyone > already done this? - I'm curious and a little concerned that it might be > something we should do for the future. Any advice would be appreciated. > > Thanks, > Quote Link to comment Share on other sites More sharing options...
Guest guest Posted January 10, 2012 Report Share Posted January 10, 2012 I thought that, but was told it's as soon as you get NI number by the bank  You can only have an ISA if you are over 18  In a message dated 10/01/2012 18:53:25 GMT Standard Time, jane_hogan@... writes:  Hi Nina, I just want one for presents and because he has been given some money and I want to put it in an ISA for him. I'm also keen to make sure we have the power to make key decisions over his future once he turns 18 - it's something I know bugger all about, but want to make sure I get it right. Jane x  We looked into this and you do need power of attorney ..... but what are the benefits of having this account? Unless I have missed something I can't see the point of having an account in my son's name cos he can't operate it and cos after a certain amount it will affect his benefits. Guess you would want one if someone gives him a cheque as a gift but I just ask them to write the cheque to me . His benefits are managed by me and go into my account. Nx > > > > My son is 17 years old. He has always had a children's saving account > but we tried to open an adult savings account for him today - we have > been told that we would need power of attorney to do this as he wouldn't > be able to sign etc., Has anyone come across this and has anyone > already done this? - I'm curious and a little concerned that it might be > something we should do for the future. Any advice would be appreciated. > > Thanks, > Quote Link to comment Share on other sites More sharing options...
Guest guest Posted January 10, 2012 Report Share Posted January 10, 2012 I thought that, but was told it's as soon as you get NI number by the bank  You can only have an ISA if you are over 18  In a message dated 10/01/2012 18:53:25 GMT Standard Time, jane_hogan@... writes:  Hi Nina, I just want one for presents and because he has been given some money and I want to put it in an ISA for him. I'm also keen to make sure we have the power to make key decisions over his future once he turns 18 - it's something I know bugger all about, but want to make sure I get it right. Jane x  We looked into this and you do need power of attorney ..... but what are the benefits of having this account? Unless I have missed something I can't see the point of having an account in my son's name cos he can't operate it and cos after a certain amount it will affect his benefits. Guess you would want one if someone gives him a cheque as a gift but I just ask them to write the cheque to me . His benefits are managed by me and go into my account. Nx > > > > My son is 17 years old. He has always had a children's saving account > but we tried to open an adult savings account for him today - we have > been told that we would need power of attorney to do this as he wouldn't > be able to sign etc., Has anyone come across this and has anyone > already done this? - I'm curious and a little concerned that it might be > something we should do for the future. Any advice would be appreciated. > > Thanks, > Quote Link to comment Share on other sites More sharing options...
Guest guest Posted January 10, 2012 Report Share Posted January 10, 2012 Vicky, It's depressing. The whole thing is about cost - I have been told that education should carry on up to 25 - but it's all down to money and the cheapest placements that are out there. Jane  What would those plans be? I'm completely clueless as to whats out there but guessing not much, nothing? This is what pushes me to continue any intervention because I strongly suspect all the outings and fun, fun fun will end once school ends.  tells me there is a young man in college pretty much as severe as who basically attends lessons where he is not really an active member of the group, he doesn't talk, stimms and yelps but it's all that's available. Post 19 is a subject we don't hear much about. Suppose it will be some kind of fight for a residential care type of provision but how do we know they wont be moved out just as soon as we are no longer around? Vicky Re: Re: off topic  You can only have one ISA and all of us should already have one even if its only got £20 in it.  Decisions like where he will live after 18 is a biggie for me, if you are not agreeing with SS they can apply CoP, sidetrack you and put them in a shithole if you are unable to look after them. Over 40's end up in ESME nursing homes, god forbid and over my dead body. If the young person is over 16, then SS more likely to challenge apparently in high cost cases, like Henry & Sam spending week in residential school, under 16 you pass under the radar I am told.  I know this is scarey for those of you with small kids and hope in your veins, do not doubt I still have hope in mine or I would not be here nor getting up at night chelating but when your kid nears 16 you have to start making just in case plans  Mandi x  In a message dated 10/01/2012 19:14:47 GMT Standard Time, mmcivor@... writes: would just put the ISA in your name ..I guess you have to work out how practical it is to have an account in his name. What key decisions over his future were you thinking about Jane? Quote Link to comment Share on other sites More sharing options...
Guest guest Posted January 10, 2012 Report Share Posted January 10, 2012 Vicky, It's depressing. The whole thing is about cost - I have been told that education should carry on up to 25 - but it's all down to money and the cheapest placements that are out there. Jane  What would those plans be? I'm completely clueless as to whats out there but guessing not much, nothing? This is what pushes me to continue any intervention because I strongly suspect all the outings and fun, fun fun will end once school ends.  tells me there is a young man in college pretty much as severe as who basically attends lessons where he is not really an active member of the group, he doesn't talk, stimms and yelps but it's all that's available. Post 19 is a subject we don't hear much about. Suppose it will be some kind of fight for a residential care type of provision but how do we know they wont be moved out just as soon as we are no longer around? Vicky Re: Re: off topic  You can only have one ISA and all of us should already have one even if its only got £20 in it.  Decisions like where he will live after 18 is a biggie for me, if you are not agreeing with SS they can apply CoP, sidetrack you and put them in a shithole if you are unable to look after them. Over 40's end up in ESME nursing homes, god forbid and over my dead body. If the young person is over 16, then SS more likely to challenge apparently in high cost cases, like Henry & Sam spending week in residential school, under 16 you pass under the radar I am told.  I know this is scarey for those of you with small kids and hope in your veins, do not doubt I still have hope in mine or I would not be here nor getting up at night chelating but when your kid nears 16 you have to start making just in case plans  Mandi x  In a message dated 10/01/2012 19:14:47 GMT Standard Time, mmcivor@... writes: would just put the ISA in your name ..I guess you have to work out how practical it is to have an account in his name. What key decisions over his future were you thinking about Jane? Quote Link to comment Share on other sites More sharing options...
Guest guest Posted January 10, 2012 Report Share Posted January 10, 2012 Vicky, It's depressing. The whole thing is about cost - I have been told that education should carry on up to 25 - but it's all down to money and the cheapest placements that are out there. Jane  What would those plans be? I'm completely clueless as to whats out there but guessing not much, nothing? This is what pushes me to continue any intervention because I strongly suspect all the outings and fun, fun fun will end once school ends.  tells me there is a young man in college pretty much as severe as who basically attends lessons where he is not really an active member of the group, he doesn't talk, stimms and yelps but it's all that's available. Post 19 is a subject we don't hear much about. Suppose it will be some kind of fight for a residential care type of provision but how do we know they wont be moved out just as soon as we are no longer around? Vicky Re: Re: off topic  You can only have one ISA and all of us should already have one even if its only got £20 in it.  Decisions like where he will live after 18 is a biggie for me, if you are not agreeing with SS they can apply CoP, sidetrack you and put them in a shithole if you are unable to look after them. Over 40's end up in ESME nursing homes, god forbid and over my dead body. If the young person is over 16, then SS more likely to challenge apparently in high cost cases, like Henry & Sam spending week in residential school, under 16 you pass under the radar I am told.  I know this is scarey for those of you with small kids and hope in your veins, do not doubt I still have hope in mine or I would not be here nor getting up at night chelating but when your kid nears 16 you have to start making just in case plans  Mandi x  In a message dated 10/01/2012 19:14:47 GMT Standard Time, mmcivor@... writes: would just put the ISA in your name ..I guess you have to work out how practical it is to have an account in his name. What key decisions over his future were you thinking about Jane? Quote Link to comment Share on other sites More sharing options...
Guest guest Posted January 10, 2012 Report Share Posted January 10, 2012 What would those plans be? >>Getting appointed CoP deputy for welfare at least I'm completely clueless as to whats out there but guessing not much, nothing? >>More or less, SS locally are buying bungalows, putting a couple of peeps in there and providing round the clock care as its cheaper than residential proision. Doesn't sound so bad ntil you ask as you did what the hell they gonna DO all day. This is why we need The Austim Trust, a home for life and a job of some sort. This is what pushes me to continue any intervention because I strongly suspect all the outings and fun, fun fun will end once school ends. >>Yep tells me there is a young man in college pretty much as severe as who basically attends lessons where he is not really an active member of the group, he doesn't talk, stimms and yelps but it's all that's available. >>Yep Post 19 is a subject we don't hear much about. >>Here we try to avoid it and think positive (indeed I have mates whose kids will now be employable and able to live independantly) but you have to be realistic when you have a non verbal kid of 15, time goes fast Suppose it will be some kind of fight for a residential care type of provision but how do we know they wont be moved out just as soon as we are no longer around? >>I guess we have to pass the guardianship on to somebody who will fight for em, Sam does have cousins who are lawyers and only about 10 years old than him Mandi x Quote Link to comment Share on other sites More sharing options...
Guest guest Posted January 10, 2012 Report Share Posted January 10, 2012 You are right, I did not know this Individual Savings Accounts, which are tax free and often simply referred to as ISAs, can't be opened until children are at least 16 years old. Stocks and shares ISAs can't be opened by anyone under the age of 18. I thought that, but was told it's as soon as you get NI number by the bank You can only have an ISA if you are over 18 Hi Nina, I just want one for presents and because he has been given some money and I want to put it in an ISA for him. I'm also keen to make sure we have the power to make key decisions over his future once he turns 18 - it's something I know bugger all about, but want to make sure I get it right.Janex We looked into this and you do need power of attorney ..... but what are the benefits of having this account?Unless I have missed something I can't see the point of having an account in my son's name cos he can't operate it and cos after a certain amount it will affect his benefits. Guess you would want one if someone gives him a cheque as a gift but I just ask them to write the cheque to me . His benefits are managed by me and go into my account.Nx>> > > My son is 17 years old. He has always had a children's saving account > but we tried to open an adult savings account for him today - we have > been told that we would need power of attorney to do this as he wouldn't > be able to sign etc., Has anyone come across this and has anyone > already done this? - I'm curious and a little concerned that it might be > something we should do for the future. Any advice would be appreciated.> > Thanks,> Quote Link to comment Share on other sites More sharing options...
Guest guest Posted January 10, 2012 Report Share Posted January 10, 2012 You are right, I did not know this Individual Savings Accounts, which are tax free and often simply referred to as ISAs, can't be opened until children are at least 16 years old. Stocks and shares ISAs can't be opened by anyone under the age of 18. I thought that, but was told it's as soon as you get NI number by the bank You can only have an ISA if you are over 18 Hi Nina, I just want one for presents and because he has been given some money and I want to put it in an ISA for him. I'm also keen to make sure we have the power to make key decisions over his future once he turns 18 - it's something I know bugger all about, but want to make sure I get it right.Janex We looked into this and you do need power of attorney ..... but what are the benefits of having this account?Unless I have missed something I can't see the point of having an account in my son's name cos he can't operate it and cos after a certain amount it will affect his benefits. Guess you would want one if someone gives him a cheque as a gift but I just ask them to write the cheque to me . His benefits are managed by me and go into my account.Nx>> > > My son is 17 years old. He has always had a children's saving account > but we tried to open an adult savings account for him today - we have > been told that we would need power of attorney to do this as he wouldn't > be able to sign etc., Has anyone come across this and has anyone > already done this? - I'm curious and a little concerned that it might be > something we should do for the future. Any advice would be appreciated.> > Thanks,> Quote Link to comment Share on other sites More sharing options...
Guest guest Posted January 11, 2012 Report Share Posted January 11, 2012 Well done Nevin, all this stuff is depressing I know so you must be relived to get it out of the way. Mandi x Hello everybody,I tell you what I have done.I went to the solicitor.I made a will for him.The solicitor recommended "Life Time discretionary Trust" considering my circumstances.If any family member leaves my son some money, or if I have a life policy and I want him to be beneficiary..money goes safely on this trust without effecting his benefits.I was funded by Cerebra "Making a will" scheme but I also paid some money to the solicitor, totally cost £600.00I am glad that I had done..at least I protected his benefits and chose trustees for him after me,they will follow my instructions regarding nearly everything including handling money.My son is 18 now.I made a visit to a college which hosts special needs adults as well as mainstream people.After he finishes the school, if he is accepted ,I am intending to send him there for a part time basis.I will consider looking for a permanent house after finishing the colleges if he goes.I do not want him to go to the day centre I hope he will have a chance to go there,but it will happen after next year.Finding a suitable permanent space is a real,frightening subject for me..This is our side story..Good luck for everybody, dealing with adulthood and services are real challenge ..Nevin>> > What would those plans be?> I'm completely clueless as to whats out there but guessing not much, nothing?> This is what pushes me to continue any intervention because I strongly suspect all the outings and fun, fun fun will end once school ends.> tells me there is a young man in college pretty much as severe as who basically attends lessons where he is not really an active member of the group, he doesn't talk, stimms and yelps but it's all that's available.> Post 19 is a subject we don't hear much about. Suppose it will be some kind of fight for a residential care type of provision but how do we know they wont be moved out just as soon as we are no longer around?> Vicky> > > > Re: Re: off topic> > > > > > > You can only have one ISA and all of us should already have one even if its only got £20 in it.> > Decisions like where he will live after 18 is a biggie for me, if you are not agreeing with SS they can apply CoP, sidetrack you and put them in a shithole if you are unable to look after them. Over 40's end up in ESME nursing homes, god forbid and over my dead body. If the young person is over 16, then SS more likely to challenge apparently in high cost cases, like Henry & Sam spending week in residential school, under 16 you pass under the radar I am told.> > I know this is scarey for those of you with small kids and hope in your veins, do not doubt I still have hope in mine or I would not be here nor getting up at night chelating but when your kid nears 16 you have to start making just in case plans> > Mandi x> > > > would just put the ISA in your name .I guess you have to work out how practical it is to have an account in his name.> What key decisions over his future were you thinking about Jane?> Quote Link to comment Share on other sites More sharing options...
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