LPA & ISAs

Miles1

Yes, the LPAs are registered with M&S (& everyone else my Mum has any financial dealings with).

M&S already pay a small quarterly dividend to Mum's bank account (& have done for a number of years) so are fully aware the account belongs to Mum.

The whole thing is a right pain in the backside. I'm only trying to look after Mum's best interests and did everything we could by getting the LPA in place and registering it with everyone and it's still a headache. It's especially hard as I'm trying to sort Dad's estate too.

Notfarfromtheborder

I agree Miles, total pain in the backside.


As mentioned before, I have done this twice, and never had my name on any chequebooks / cards and operated exactly as per xylophone's post.


As per suggestion, speak with Natwest or move banks.


I had to deal with various institutions, some were better than others....


Good luck

alanq

I have LPA registered for my mother's NatWest accounts. I have a debit card with my name on it linked to her current account. When I registered the LPA I asked if I would be getting a cheque book with my name on it and was told that this was not necessary as I was authorised to sign cheques from my mother's cheque book. I have not put this to the test as my mother is still capable of signing her own cheques.

Strange that funds have to come from a personal current account. This restriction would affect anyone wanting to use money from say a their own building society savings account. In many circumstances a building society cheque accompanied by a statement from the building society of whose account the the funds have come from is acceptable but not it seems in this case.

I wonder how M&S handles ISA transfers. Would it be possible to open a cash ISA in your mother's name, perhaps with NatWest, and then transfer funds from that into an M&S S&S ISA?

Stocks & Shares should be regarded as long term investments. Although tempting while deposit accounts earn next to nothing are you sure that this would the best choice for your mother given her situation?