Power of Attorney

Bossyboots

https://www.publictrust.gov.uk/Enduring.html

Manik

Hi all,

Many thanks for all your comments. I've been really busly lately and haven't had the opportunity to comment.

Some of the points raised in the discussion have really made me think twice about getting EPOA done. May end up opening a can of worms.

I would certainly instead like to investigate the option of opening an account in her name but with the possibility of allowing me to manage the account on her behalf.

The 'on-line' options looks interesting, but would you not need to 'sign' the hard-copy agreement form which they should post to you? This again would take us back to square one.

Does anyone know of any high-street or on-line banks that may be fairly 'stress free' to possibly open a Joint account given the hassle you get from Banks these days.

Bossyboots

I think you might be better off approaching a bank with a high street branch. You can explain to them the difficulties with your mother's signature and discuss with them how they can help. Provided your mother has ID and a form of mark she always uses as a signature, you should be okay. If you choose a bank that has online banking as well, you can then help her operate the account.

nemo183

Hi, Manik.

Don't forget, the Enduring Power of Attorney document can be signed by all parties at any time. The beauty of it is that it doesn't become effective until you / your parent wish it to. It's like an emergency fallback, enabling you to take over their affairs without the most considerable hassle of having to apply to the courts for "Power of Attorney".

Many children/parents complete the form "just in case". Many times it is never required.

As regards bank accounts, either on or offline, I'd always favour the online approach if possible, just because it makes the practicalities of paying bills much easier. I don't think you've got anything to loose by sitting down with your parent at the PC and applying for a (for example) Cahoot account. It is true that at some point you will be sent a form that will require a signature/mark of some kind. Assuming your parent has enough documentation to pass the money laundering regs (ie passport/driving licence/ utility bill / benefits letter/ council tax letter- or failing this sworn statement from a solicitor), I don't think you've anything to loose by returning the acceptance letter with whatever signature/mark they can manage.

The worst that can happen is that you get turned down.

Although I'd love to believe there are High Street banks that will bend over backwards to help you in your situation, it's my experience that they just won't - "it's more than my jobs.....etc".

Anyway, in any event, I'm sure it would be really useful if you could post your eventual solution here on the board so that others may gain from all the work you've done!

best wishes and good luck.

Fran

I am moving this to the Pensions Board as people who read that board might have some extra info.

Pal

And now it is here I am tempted to move it to the Budget and Current Accounts board, as it has more to do with opening a bank account and transferring money than with pensions.

Anyone have any strong opinions?

dunstonh

It does seem more to do with banking than pensions. It could be wages, dividends or any sort of income so the pension side is not applicable. So i concur.