Joint ISA
pollyanna24
Forumite 4.3K Posts
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 2018) - £169,999.96
(End 2019) - Target £160,000 DID IT!!! (159,906.64)
(End 2020) - Target £147,500. £146,215.25 DID IT!!!!
Mortgages (End 2017) - £180,235.03
(End 2018) - £169,999.96
(End 2019) - Target £160,000 DID IT!!! (159,906.64)
(End 2020) - Target £147,500. £146,215.25 DID IT!!!!
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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
Scott
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.
Mortgages (End 2017) - £180,235.03
(End 2018) - £169,999.96
(End 2019) - Target £160,000 DID IT!!! (159,906.64)
(End 2020) - Target £147,500. £146,215.25 DID IT!!!!
ISA stands for Individual Savings Account.
Individual meaning only for 1 person only.
As they said: