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Joint ISA
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pollyanna24
Posts: 4,390 Forumite
I have an ISA in my name as I was told I couldn't have a joint one (guess the I in the ISA gives that away!), but anyways, I'm almost up to my limit, so want to open one in my boyfriend's name (it's joint savings, so technically (in my head anyways) I'm not doing anything wrong).
But if something happens to him (I don't mean to sound morbid, but it's something to think about), as we are not married, there is no way I can access this money. I have a ISA account, but trust my parents (we don't talk to his dad) to give him the money if something happened to me.
Are there better bank accounts for us that we can join together? Or is there a way around this? I.e. kind of like a Will, but just regarding our bank accounts? Most of our bank accounts are joint, so it's just a couple I'm worried about.
But if something happens to him (I don't mean to sound morbid, but it's something to think about), as we are not married, there is no way I can access this money. I have a ISA account, but trust my parents (we don't talk to his dad) to give him the money if something happened to me.
Are there better bank accounts for us that we can join together? Or is there a way around this? I.e. kind of like a Will, but just regarding our bank accounts? Most of our bank accounts are joint, so it's just a couple I'm worried about.
Pink Sproglettes born 2008 and 2010
Mortgages (End 2017) - £180,235.03
(End 2021) - £131,215.25 DID IT!!!
(End 2022) - Target £116,213.81
Mortgages (End 2017) - £180,235.03
(End 2021) - £131,215.25 DID IT!!!
(End 2022) - Target £116,213.81
0
Comments
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The easiest way would be to actually have a will, I'd have thought.Debbie0
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Firstly, without thinking about if he cops for it, make yourself a Third Party on his ISA, which means you can go into the bank and discuss it, and it will also show on your internet banking.
Then, as debbie42 has said, both write wills stating that any money held in sole names should be transferred into the other parties control.
Sounds like a good kick up the butt to get your finances and wills sorted.
Hope that helps
Scott0 -
Cheers guys. Pretty much what I thought. I've asked my boss about a will (he's a solicitor) and he said he will do it.
I didn't know about the third party thing, have to look into that. Getting him to go in on Saturday to sign the book and stuff, so will ask then. Suppose I should make him a third party on mine as well.Pink Sproglettes born 2008 and 2010
Mortgages (End 2017) - £180,235.03
(End 2021) - £131,215.25 DID IT!!!
(End 2022) - Target £116,213.810 -
You cant have a joint ISA Because...
ISA stands for Individual Savings Account.
Individual meaning only for 1 person only.Had £80,000 in Savings - All GONE!!! BYE BYE:A Single, 27, Aspie, Gooner :A0 -
You cant have a joint ISA Because...
ISA stands for Individual Savings Account.
Individual meaning only for 1 person only.
As they said:pollyanna24 wrote: »(guess the I in the ISA gives that away!)Debbie0
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