Account to support widow with small children

Proudy wrote: »

My best friend has recently passed away and I want to set up some sort of account that a number of close friends can put money in to provide ongoing financial support for the mother and the children for such things as days out, childcare, holidays etc so she would need to have immediate and ongoing access to the account. I want to do this for them without bothering her as she has enough to deal with right now. Can anyone recommend the best way to do this for them?

Is she claiming any means tested benefits? Any account would have to ber set up with her knowledge and consnet as she would have to sign the application forms.

Not really, if you want her to have access now.
Easiest way, if you trust each other, is to nominate someone you all trust, and ask them to open a new, separate account in their name. Some banks allow you to 'nickname' an account, and you could use her name (no legal status, but it indicates what's going on)

In a few months time, you can make a decision about the best way forward, whether you want it to be on-going, a single gift, or using that account yourselves to pay for the holiday (or whatever).
Yorkshireman has a good point, but it is very likely that your money will fall under any threshold. You can check on gov.uk, or if need be, ask at CAB, local law centre, or similar.
Cruse.org.uk (the bereavement charity) can be very helpful, and I suggest that you check in with them.

Doing it this way is simple, but does depend on the integrity of the person holding the money, and I would aim for it to be short-term.

Yes but they charge a percentage!

Yorkshireman99 wrote: »

Yes but they charge a percentage!

The BT scheme is much cheaper:

http://www.moneysavingexpert.com/news/family/2011/04/bt-launches-low-fees-charity-giving-site

jackyann wrote: »

I think the BT scheme only deals with registered charities.

Ok, thanks. In that case, there are other cheaper schemes. I think there is one from Virgin.