Best savings plan for Aunties money

xylophone

(I'd avoid Barclays).

Relative with POA and also Trustee of a family Trust uses Barclays with no problems. That said, the family has used Barclays for donkeys' years

The OP would be well advised to obtain certified (notarised) copies of the POA document - the solicitor who is acting in the sale of the property should be able to do this for her.

atush

I'd question the 'confused' and try to get her diagnosed with demtia of some kind.

She could live for years and the money will last longer.

I agree with keeping one year's money as cash easy access, and some more as cash longer term. but would invest some of it as she is likely to last for years.

G_M

Is there a Memory Clinic within your Health authority area?

Speak to GP about referral, and diagnosis - it will help with claims.

depending on what assistance she needs, she can be assessed for 'NHS Continuing Care' as well as assessment for Local Authority Social Care.

They are not the same and are assessed differently.

della11

Thanks everyone for your input on this. There are some very useful tips and ideas.

Will investigate the Memory clinic for sure.

ISA will be opened this week hopefully.

As for another property, its an idea but I'm not sure I want the extra work/hassle it may involve.

Thanks again

kidmugsy

Look into buying an Immediate Needs Annuity; paid direct to the care home it goes untaxed.

sumanjaiswal991

thanks for sharing ...

della11

This responsibility is wearing me down slightly, here's an update so far:-

£7500 into Cash Isa with Birmingham Midshires, with the rest I'm toying with Stocks and Shares ISA

£40000 Premium Bonds

Next I'm looking into a 1 fixed rate bond for maybe £20k as savings certificates not for sale currently.

The idea of opening a load of current a/c's is not a path I want to go down really, just too complicated I feel.

Any other good ideas are welcome please?