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California is taking an important step to provide support for children and young adults who experienced the loss of a parent or caregiver to COVID-19, or who have spent over 18 months in foster care. The HOPE for Children Trust Account Program, launching in the first quarter of 2026, will provide $3,000 in a trust account to eligible youth across the state.
Note: The information in this blog post may be updated as the HOPE Program approaches its launch.
Why Was the HOPE Trust Account Program Established?
The HOPE for Children Trust Account Program was established through Assembly Bill 156 (the HOPE Act). It was created to help balance out some of the barriers that children in foster care or those who’ve lost a caregiver often face when planning for their future.
Who Qualifies for the HOPE Trust Account Program?
Eligible children as of September 27, 2022, when the statute became effective are:
- Children under 18 who have been in foster care for at least 18 months (does not have to be consecutive) or were placed into foster care after age 16 and parent reunification services have been terminated. This includes every dependent child of the court of an Indian tribe, consortium of tribes, or tribal organization who is the subject of a petition filed in the tribal court pursuant to the tribal court’s jurisdiction in accordance with the tribe’s law and the tribe has notified the department about the child’s status as a dependent child under the tribal court.
- Children under 18 whose parent, Indian custodian, or legal guardian died during the federally declared COVID-19 public health emergency and COVID-19 is listed on their death certificate, or they died as a consequence of having long-term COVID-19; and the household income before the death of that parent, custodian, or guardian, would have qualified the child for Medi-Cal benefits.
The program is open to all eligible participants, regardless of immigration status.
How the HOPE Trust Account Program Works
Each eligible child or young adult will have a trust account in their name, with an initial deposit of $3,000.
- The funds will be invested on their behalf until they turn 18. At age 18, they can decide whether to withdraw the money or keep it invested for up to eight more years, until their 27th birthday. Funds cannot be withdrawn before age 18.
- The funds have no use restrictions and can be used in any way that supports financial independence, such as paying for education, housing, or savings.
- There are no contribution requirements. This means participants do not have to add their own money to the account.
How to Enroll
The HOPE Program is currently in the process of developing a website, which will allow eligible Californians to enroll online. Once the website is live, individuals will be able to enroll by completing a verification form and providing supporting information. In the interim, for questions or assistance, please contact the program at HopeForChildren@treasurer.ca.gov.
How to Stay Updated
The HOPE Program is scheduled to launch in early 2026. To receive updates and learn more about the enrollment process when it becomes available, you can sign up here. For additional questions or information please contact HopeForChildren@treasurer.ca.gov.
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