Mother has difficulty managing financial affairs

Jacks_xxx

Hiya hon,

With MIL we have signed her up for online banking so that we can keep an eye on things without having to be heavy handed or stress her out by checking with her verbally all the time.

Love Jacks xxx

meerkat2007

I just want to thank all you wonderful people who have replied to this thread, even though it is in the wrong place! You've all reassured me so much - I don't have any other family to discuss this with, and to be honest, I've been like a rabbit caught in the headlights, just not knowing what to do about anything.

However, things are starting to move now, and once all the bills are switched to me, the LPA is in place, and my mother is getting the treatment she needs, I'll be able to relax a little.

Fortunately, I have a fantastic boss who is very happy to let me work where I want, in terms of working from home or in the office - as far as I know, he doesn't visit here, but I'd still like to thank him publicly.

And I'd also like to wish everyone all the best for Christmas and the New Year!

meerkat2007

Jacks_xxx wrote: »

Hiya hon,

With MIL we have signed her up for online banking so that we can keep an eye on things without having to be heavy handed or stress her out by checking with her verbally all the time.

Love Jacks xxx

Thanks, Jacks - my mother fortunately has online banking already, but I am worried about falling foul of the bank's rules on who should have access, which is partly what's prompted this flurry of questions on my part.

mooomin

meerkat2007 wrote: »

Thanks, Jacks - my mother fortunately has online banking already, but I am worried about falling foul of the bank's rules on who should have access, which is partly what's prompted this flurry of questions on my part.

If there was ever fraud on her account and the bank became aware that you had been accessing her accounts online without a POA or joint holder status, she may not be reimbursed.

If you do end up getting a POA over her affairs, a lot of banks will sign you up for online banking as the attorney of her banking. Just make sure that you do everything above board and you will be fine. Once the bank knows that you are the POA for your mum, they will be able to give you an up to date picture of her finances, which should help to put your mind at rest.

Have a Merry Christmas :rudolf:

Jacks_xxx

Eeek! It looks like we're going to have to do things properly then. :eek:

meerkat2007

flying_fresian wrote: »

If there was ever fraud on her account and the bank became aware that you had been accessing her accounts online without a POA or joint holder status, she may not be reimbursed.

If you do end up getting a POA over her affairs, a lot of banks will sign you up for online banking as the attorney of her banking. Just make sure that you do everything above board and you will be fine. Once the bank knows that you are the POA for your mum, they will be able to give you an up to date picture of her finances, which should help to put your mind at rest.

Have a Merry Christmas :rudolf:

This is exactly the situation that has been worrying me, and why I wanted to make sure I do things right. I think the best thing I can do is get the POA sorted out after Christmas, then I can approach the bank armed with the knowledge and the necessary legal instrument to do things the right way.

Thank you again, and a Merry Christmas to you too! :A