As explained in E3.501, child trust fund accounts are intended to be a long-term investment medium; the normal position is that no withdrawals can be made from the account until the child is 18. However, there are certain circumstances in which money may be withdrawn from the account before the child attains the age of 181.
- Ìý
•ÌýÌýÌýÌý settlement of management charges and incidental expenses of the account provider
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•ÌýÌýÌýÌý death or terminal illness of the child
Settlement of management charges and incidental expenses of the account provider
This type of permitted withdrawal is the one which is likely to be the one most frequently encountered in practice. The account provider may withdraw money from the account to settle any management charges and incidental expenses which are due pursuant to the management agreement. The second is where the account provider is satisfied that the named child has died under the age of 18.
Death or terminal illness of the child
A claim for withdrawals is permitted
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Web page updated on 17 Mar 2025 16:46