Support trust fund accounts for children who’ve lost a parent

In California, there are an estimated 20,000 children who lost a parent or primary caregiver to COVID-19. These children will not only be deprived of monthly income from that parent or guardian, but also of the long-term benefit of wealth transfer from their parents or guardians. These children are disproportionately children of color.

Trust fund accounts have emerged as a hopeful new policy that aims to advance social and economic well-being by providing for children who face economic hardship so they have resources and support they can count on when they come of age.

Senate Bill 854, the HOPE (Hope, Opportunity, Perseverance, and Empowerment) for Children Act, will:

• Create HOPE Accounts for children who lost a parent or primary caregiver to COVID-19, and for permanent foster youth, and deposit up to $4,000 for children up to age 9 and up to $8,000 for youth ages 10-17 into these accounts.

• Establish the CalSurvivor program, which will provide state-funded monthly financial assistance payment to kids whose parent or guardian has died, and who is not otherwise eligible for federal old-age, survivors, and disability insurance benefits.

• Require the California Health and Human Services Agency to report to the Legislature how much it would cost to secure HOPE Account trust funds for all children born in California to low-income families.

As the remaining spouse, parent and COVID survivor, I urge fellow Californians to reach out to your local representative requesting support for this bill. Everyone deserves a chance to fly.

— Hillary Porter, Bakersfield