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What to do with mum’s savings?
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Don’t be surprised if after sorting this out she starts hoarding cash again. Has she set up lasting powers of attorney? If not you might like to gentle persuade her to do this, you can keep an eye on cash withdrawals.0
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Hi OP
rightly so the bank etc would want evidence of this money sources.
So be prepared
We often keep close to 4 k in cash its old habits, lol. Push come to shove for us,
we have worked, we do regualry take out 250 or 500 amounts in cash
and at times spend it all and then put the reminders to one side
I recall years ago ching the 50's in the bank for nwer ones then 20's as they were going out of date
We also hold usa dollars, euros and rupees, lol - old school traing
But for mum, best in a bnak etc and tell her to spend some on hereself and the property she lives in as well
Thanks0 -
You may need to ensure she has some suitable ID documents. Most banks etc want these to open accounts if they can't use electronic (credit reference) checks - and sometimes even if they can. For example:
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