How do you get money out if you can't leave the house.

Niv

soolin said:

MalMonroe said:

Grumpy_chap said:

Why can't she go out of the house?
Shielding has ended.

Shielding hasn't ended. Lockdown has ended. My family and I are still shielding simply because a high number of people are still dying from Covid where I live. 

The difference is you are choosing to shield , it is no longer on the advice of the powers that be. It’s just the same as any normal times if a person chooses not to go,out. 

My step mother has been told 'by the powers that be' to shield still.

kaMelo

Niv said:

soolin said:

MalMonroe said:

Grumpy_chap said:

Why can't she go out of the house?
Shielding has ended.

Shielding hasn't ended. Lockdown has ended. My family and I are still shielding simply because a high number of people are still dying from Covid where I live. 

The difference is you are choosing to shield , it is no longer on the advice of the powers that be. It’s just the same as any normal times if a person chooses not to go,out. 

My step mother has been told 'by the powers that be' to shield still.

Who are "The powers that be"

Takmon

Jeremy535897 said:

When my mother was alive, she made her account a joint account in both our names, with the full approval of the bank. That meant I could pay all her bills and manage her money. Obviously there has to be a strong degree of trust, but that also applies with a power of attorney, and has been said before, LPAs are rather more complicated and expensive.

That's a bad idea to setup a joint account because it then means you are financially linked when it comes to your credit report which could cause issues. 

An LPA may take a bit more form filling out but it's not that difficult and only costs £82, this is then far more useful than a joint account because it means that you can take care of all their financial affairs and access all accounts on their behalf which is far more useful and makes things far far easier if their mental health deteriorates. 

Barny1979

My parents are housebound, so if they need cash, to pay bin cleaners, tip postie etc, then they give me a cheque and I withdraw an amount in different denominations.

Jeremy535897

Takmon said:

Jeremy535897 said:

When my mother was alive, she made her account a joint account in both our names, with the full approval of the bank. That meant I could pay all her bills and manage her money. Obviously there has to be a strong degree of trust, but that also applies with a power of attorney, and has been said before, LPAs are rather more complicated and expensive.

That's a bad idea to setup a joint account because it then means you are financially linked when it comes to your credit report which could cause issues. 

An LPA may take a bit more form filling out but it's not that difficult and only costs £82, this is then far more useful than a joint account because it means that you can take care of all their financial affairs and access all accounts on their behalf which is far more useful and makes things far far easier if their mental health deteriorates. 

It seems extremely unlikely that an elderly and severely disabled mother will either need credit, or be likely to affect someone else's credit.

elsien

No, but is potentially more open to financial abuse. Joint accounts muddy the waters in that respect.

Takmon

Jeremy535897 said:

Takmon said:

Jeremy535897 said:

When my mother was alive, she made her account a joint account in both our names, with the full approval of the bank. That meant I could pay all her bills and manage her money. Obviously there has to be a strong degree of trust, but that also applies with a power of attorney, and has been said before, LPAs are rather more complicated and expensive.

That's a bad idea to setup a joint account because it then means you are financially linked when it comes to your credit report which could cause issues. 

An LPA may take a bit more form filling out but it's not that difficult and only costs £82, this is then far more useful than a joint account because it means that you can take care of all their financial affairs and access all accounts on their behalf which is far more useful and makes things far far easier if their mental health deteriorates. 

It seems extremely unlikely that an elderly and severely disabled mother will either need credit, or be likely to affect someone else's credit.

I personally know of one disabled lady who unfortunately in her later years took out and struggled to repay a handful of doorstep loans which did have a big negative impact on her credit report and any financial associates she may have had. 
It's generally a bad idea to be financially linked with anyone when you don't need to be, especially when having a joint account isn't actually that useful compared to an LPA.

Spending the time now and doing it properly with an LPA makes everything far far easier if the person concerned did suffer mentally later in life.

Dr_Crypto

How did you get an LPA for £82? When I set one up (in case I should become incapable) it cost me £82 to to OPG plus the solicitor fees in top. 

YBR

There is no need to use a solicitor. I've done both LPAs without.

Dr_Crypto

Wasn't aware of that. I remember some training we had at work years ago and it said they had to be done by solicitors. if I knew I could have done DIY I would have done so.