Updated: May 18
The ballerina effect of the children's trusts and the corresponding effect on market expansion
Ballerinas are programmed to move in a vertical and rotational motion whilst protecting their centre of gravity. The current children's trust market has taken a twirl. This is due to the vertical upward thrust caused by the modern day child who is more aware of their rights than the child of yesterday. This awareness is transferred to all children through a rotational force, resulting in an expansion of this market. There is an increase in the number of trusts that are created to cater for the modern day child.
Expansion due to increased child safety and protection requirements
There are a lot of children’s trusts that are created on a daily basis to meet the current high demand of the safety requirements around the modern day child. There are lots of funds that are dedicated to this cause. There is a lot of funding being made available from different sources, and research data from secondary sources shows that there was a rise in the number of donations last year towards children's causes. There is also an expectation of industry growth over the next five years with an estimated increase that is worth billions of dollars towards this industry.
The children’s trusts also deal with issues such as mental health, health & wellbeing and stress related illnesses. There are a number of organizations that currently deal with resolving the root cause and the effects associated with the negative effects associated with the health and wellbeing of the modern day child.
The core existence of these organizations is to uplift the:
a). Health and wellbeing;
b). Health and safety; and
c). Care & protection of the modern day child.
The regulations and legalities around the modern day child are also being updated to reflect the modern day child's requirements. The children's act 1989 and 2004, places the responsibility of the child's welfare in the hands of their parents or primary carers. This requirement expands the scope of the local authority in terms of being the protector of the child from harm, investigator of child safety requirements and also being able to provide services to children in need. Is the role expansion of the local authority something to smile about or should we worry that they have a lot to deal with and they might not fully meet or customise all of the children's requirements?.
This is a question that can be left with the local authorities to decide. The next question to ask is, "Is the role that the local authority play as both the investigator of maltreatment and also the provider or defender of children's services" not creating a conflict of interest? Does this not have an effect on the children's trusts that are created to meet the children's requirements, safety requirements and to provide care requirements to children who require them.
Increase due to legacy income and money left to charities through wills
There has been a large number of individuals that are, “choosing to leave bequests to charity in their will, with legacy income worth approximately £2.8 billion in 2017 according to Legacy Trends 2018”. This growth is expected to help drive the charities sector and the sector dedicated to children's causes as high net worth individuals, companies and members of the public are more willing to give when they have more in their pockets.
Efforts to reduce vulnerability of the modern day child:
The children’s trust are created to deal with real life issues that affect the modern day child. Charities are also currently filling in the gap that is being created by the cuts in the public funding. The children's trust is also positively impacting the youth market as we are currently seeing a reversal of the youth unemployment through the voluntary sector which currently predicts that the unemployment rate has been reduced from about “18.4% to approximately 10.8%” in the current year. Young people are donating through volunteering their time to obtain skills which helps with their future employment prospects. This also helps reduce stress and mental health issues for young adults as it reduces the pressure associated with unemployment and starting up a family.
There is also prediction that “charities will need to continue to adapt to technological change over the coming years as electronic payments overtake the use of cash. The growth in technology and the need for more skills in technology is also driving the upward trend of the trusts market with most suppliers in the children's market providing their services through the online market.
The modern day politician and the children’s commissioners are dedicating billions of dollars towards reducing vulnerability of the modern day child. This is currently achieved through the social services. This done to prevent impairment, restrictions to personal development, restrictions to health and also to ensure consistency in care provision resulting in the best outcomes for the children.
This is also achieved through offering support, relief, emergency access and recovery solutions to children whose health and wellbeing is being affected, there is an increased number of charities within this sector that address these key requirements. The situation of vulnerable children not only requires dealing with the issue through addressing the key issues causing vulnerability. It also requires:
1). Implementing key detective measures such as dealing directly with all parties involved in the child’s journey; and
2). Implementing preventative measures such as creating trusts that cater for the vulnerable child. There are a lot of vulnerable children’s trusts that are dedicated towards the prevention of vulnerability towards the modern child.
This sudden expansion and the increasing number of trusts that deal with this issue has helped the trusts market to expand. There is an increased number of trusts that cater for social issues that result in vulnerability. Examples of such trusts are:
a). Vulnerable children’s trusts;
b). Disabled children’s trusts;
c). Bare trusts;
d). Discretionary trusts;
e). Interest in possession trusts; and
f). Accumulation trusts.
There is projected growth of this market as the modern day child is now more protected than the child of yesterday. The more protection and care resources dedicated towards the modern child means the more work and projects that are carried out in this market resulting in the expansion of this market. There is also an increase in the number of products and services that are offered in this market. We no longer just deal with the creation of trusts but we also deal with the issues such as:
a). Dealing with the negative effects of violations, breach of trust, and breach of responsibilities by parties involved.
This is done through, children being protected and cared for in a way that is acceptable to all parties involved in the child’s daily life. This also creates an unexpected expansion into this market, as we now have to ensure that the protection and care that is provided is done in a legal, ethical and responsible manner.
We now have to also ensure that the modern day child does not only:
a). Know and understands their rights;
b). Is provided with the help and support to take advantage of the help available in an independent, non biased and transparent manner; and
c). Understand the processes and the stages of intervention that is available and products and services that can be provided to resolve the issues affecting their health, wellbeing and personal development.
We have more people than ever being involved in the care and protection of the child, "should we smile or should we be concerned"?. Some say, "too many cooks spoilt the broth". This is a question that can only be left with those involved in this market.
Jumleap Estates & Wills Planning Private Limited, confirms that nothing stated on this article constitutes advice on which you should rely. Our blog articles are provided for general information purposes only. Professional or specialist advice should always be sought before taking any action relating to any views, issues or matters discussed. Jumleap Estates & Wills Planning Private Limited will not be held responsible for any action taken as a result of this article.