Joint bank accounts and death

Keep_pedalling

I would be more concerned about haveing lasting powers of attorney inplace in case either or both of you ever become incapable of managing your affairs, though illness or accident.

NigelO

The TSB refused to open an executor account for me when my Mother died

NigelO

Can anyone say what happens to direct debits in this situation?

I am going to die one day. Suppose I have several direct debits and annual subscriptions in place, from a joint account with my wife. When I die she might not think to cancel the Amazon Prime authority, and that annual subscription to a technical magazine, or even notice that the money had been taken ...

Vortigern

NigelO wrote: »

Can anyone say what happens to direct debits in this situation?

I am going to die one day. Suppose I have several direct debits and annual subscriptions in place, from a joint account with my wife. When I die she might not think to cancel the Amazon Prime authority, and that annual subscription to a technical magazine, or even notice that the money had been taken ...

The direct debits and subscriptions will continue until your wife cancels them.

You'd better leave her some instructions.

agrinnall

NigelO wrote: »

When I die she might not think to cancel the Amazon Prime authority, and that annual subscription to a technical magazine, or even notice that the money had been taken ...

Are you suggesting that your wife can't read a bank statement? If that is really true then perhaps you should start teaching her now while you have a chance, although I suspect that in reality she'll manage perfectly well.

jonesMUFCforever

I know this is an old thread but the only time a joint account will be frozen upon death of one party is if the account is overdrawn.