I have POA can I set up a savings account for husband

Logierait

Hi,
my husband has Alzheimer's and I have the POA. Am I able to set up a Savings Account and then an ISA in his name. I have accounts in my name but would like to put money into a tax free ISA 

JamesRobinson48

There's some on here, holders of Lasting Power of Attorney for Finance and Property, who have done this many times with various different savings institutions. Institutions vary as to their requirements and how helpful they are. I have found it easiest to do so in cases where self or spouse is an existing customer of the respective institution., or where the institution has a local branch.  In my experience it can be a fiddle to set up, but then easy to maintain. But before you pay any money into a savings account, I suggest you first verify that you will also be able to satisfy the institution's T&Cs in terms of subsequently withdrawing funds from the account.

friolento

You need to check with the respective provider. Whilst it is legally permitted, providers are not obliged to allow opening of accounts with POA. 

elsien

With the regards to the earlier post don’t ever rely on AI generated information when making decisions that could have legal or other ramifications. 

They are not always accurate and they make things up. 

Yorkie1

Will the funds for the accounts come from your husband or just from you?

soulsaver

Logierait said:

Hi,
my husband has Alzheimer's and I have the POA. Am I able to set up a Savings Account and then an ISA in his name. I have accounts in my name but would like to put money into a tax free ISA 

You can, if the provider (bank etc) allows it.