Joint Bank Accounts and Death

pollypenny

My father made me a signatory on his HSBC accounts so that I could manage his pensions and residentisl home fees.

Very easy and no problems arose.

OH and I are signatories on DS's British account, which he keeps to pay his professional fees for the UK.

getmore4less

Mojisola wrote: »

And, if you need something to work instantly while waiting for the POA to come through, go on the parent's account as a signatory - you can manage the account but don't have any ownership over the money.

As the person needed to be of sound mind to allow the change to joint account a standard POA would have done the job and they are instant, unlike LPA.

DandelionPatrol

Mojisola wrote: »

And, if you need something to work instantly while waiting for the POA to come through, go on the parent's account as a signatory - you can manage the account but don't have any ownership over the money.

To OP, check whether this could in fact be what happened. Given that these days banks have deskilled their staff, there is a small but definite chance that the bank could confuse a signatory as being owner of the money.

BobQ

securityguy wrote: »

"About a year ago my Mother asked my sister to help manage her bank accounts and they became joint holders. "

Why don't people who need powers of attorney get powers of attorney, rather than messing about with dangerous stunts like this? .

Because they trust their own children.

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