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  • FIRST POST
    • Proudy
    • By Proudy 19th Apr 17, 9:45 AM
    • 1Posts
    • 1Thanks
    Proudy
    Account to support widow with small children
    • #1
    • 19th Apr 17, 9:45 AM
    Account to support widow with small children 19th Apr 17 at 9:45 AM
    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?
Page 1
    • Yorkshireman99
    • By Yorkshireman99 19th Apr 17, 10:33 AM
    • 2,303 Posts
    • 1,843 Thanks
    Yorkshireman99
    • #2
    • 19th Apr 17, 10:33 AM
    • #2
    • 19th Apr 17, 10:33 AM
    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?
    Originally posted by Proudy
    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.
    Last edited by Yorkshireman99; 19-04-2017 at 5:10 PM.
    • Malthusian
    • By Malthusian 19th Apr 17, 3:11 PM
    • 1,981 Posts
    • 2,840 Thanks
    Malthusian
    • #3
    • 19th Apr 17, 3:11 PM
    • #3
    • 19th Apr 17, 3:11 PM
    Why not just write her a cheque?

    If she doesn't have a bank account of her own she will have to open one sooner or later.
    • jackyann
    • By jackyann 19th Apr 17, 6:06 PM
    • 2,981 Posts
    • 5,539 Thanks
    jackyann
    • #4
    • 19th Apr 17, 6:06 PM
    • #4
    • 19th Apr 17, 6:06 PM
    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.
    Last edited by jackyann; 19-04-2017 at 6:08 PM.
    • Kynthia
    • By Kynthia 20th Apr 17, 6:57 PM
    • 4,864 Posts
    • 6,845 Thanks
    Kynthia
    • #5
    • 20th Apr 17, 6:57 PM
    • #5
    • 20th Apr 17, 6:57 PM
    Can 'just giving' be used to collect the money?
    Don't listen to me, I'm no expert!
    • Yorkshireman99
    • By Yorkshireman99 20th Apr 17, 7:32 PM
    • 2,303 Posts
    • 1,843 Thanks
    Yorkshireman99
    • #6
    • 20th Apr 17, 7:32 PM
    • #6
    • 20th Apr 17, 7:32 PM
    Yes but they charge a percentage!
    • Red-Squirrel
    • By Red-Squirrel 20th Apr 17, 9:41 PM
    • 835 Posts
    • 1,811 Thanks
    Red-Squirrel
    • #7
    • 20th Apr 17, 9:41 PM
    • #7
    • 20th Apr 17, 9:41 PM
    What about a PayPal account?
    • SuzieSue
    • By SuzieSue 22nd Apr 17, 8:52 PM
    • 3,529 Posts
    • 3,847 Thanks
    SuzieSue
    • #8
    • 22nd Apr 17, 8:52 PM
    • #8
    • 22nd Apr 17, 8:52 PM
    Yes but they charge a percentage!
    Originally posted by Yorkshireman99
    The BT scheme is much cheaper:

    http://www.moneysavingexpert.com/news/family/2011/04/bt-launches-low-fees-charity-giving-site
    • jackyann
    • By jackyann 26th Apr 17, 9:42 PM
    • 2,981 Posts
    • 5,539 Thanks
    jackyann
    • #9
    • 26th Apr 17, 9:42 PM
    • #9
    • 26th Apr 17, 9:42 PM
    I think the BT scheme only deals with registered charities.
    • SuzieSue
    • By SuzieSue 27th Apr 17, 8:54 AM
    • 3,529 Posts
    • 3,847 Thanks
    SuzieSue
    I think the BT scheme only deals with registered charities.
    Originally posted by jackyann
    Ok, thanks. In that case, there are other cheaper schemes. I think there is one from Virgin.
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