Sorting Out Banking Post Bereavement

steveeglon

Hi, my father past last week, leaving quite a number of bank accounts, many of which are joint accounts with my mum. He had online access for the main accounts as she wanted him to deal with things. Now he's gone she wants me to handle it for her. I have my dad's login and all of the bank cards and she has her own bank cards. I've informed the banks so that access will no doubt dissappear soon. Is there a simple way to get my mum online access to the existing accounts or am I better off just creating her a new account with a new bank?

I'm loathe to ask the banks as the levels of security and data protection are tough to negotiate, and quite honestly not something I want to be dealing with as well as funeral arrangements etc.

Brie

Sorry for your loss. There's always so many things to tidy up at a time like this.

Can your mum get online? You could sit with her and you could navigate so that it's just like she's using the online facilities.

And once things have calmed down a bit talk to the bank about having third party access to her accounts. Then you can do all the online things or get money out of an ATM or pay bills for her. The bank will give you your own card.

Also consider, if it hasn't been done already, to get power of attorney for mum so you can better help with everything in the long term. It can all be done DIY for about £90 for each of the finance and health ones.

The other thing to do is draft up a letter of authority for mum to sign so you can assist with all the bills - utility, phone, council tax, etc. It's just a simple letter stating "I, <Steve;s mum, mum's address>, give <Steve, your address> authority to deal with all things related to my account on my behalf." Dated, signed. Scan a copy (library can do this for you) and file it for when you need to help her with any stuff she can't deal with herself. Some organisations will need one recently dated - with recently being anywhere from 3 months to the last couple of years.

Keep_pedalling

if your mother struggles with handling her finances now would be a good time for her to put a lasting power of attorney in place.

No need to close all the joint accounts they can be converted to sole accounts.

steveeglon

I can get her online but only with me typing! We already have LPA for finance. It's really what to do about the banks to get the online access she doesn't have now.

steveeglon

https://forums.moneysavingexpert.com/discussion/comment/81931996#Comment_81931996

We already have that, she's not medically incapable just scared stiff

Keep_pedalling

https://forums.moneysavingexpert.com/discussion/comment/81932002#Comment_81932002

I understand, When I had LPA for my mother she could not handle anything on line either. As she had all her mental faculties at the time we went into her bank and arranged for me to a card and full online access to her accounts. We just had to produce ID and a certified copy of the LPA.

In your shoes I would do the same, but for simplicity I would reduce the amount of accounts she has.

sheramber

The joint accounts will automatically become sole accounts on her name. You do not need to do anything other than advise the bank of your father’s death.

soeak to the Beteavement Team. Any sole accounts your father had will be frozen. Depending on how much is in them the bank may need probate to release the money. Each bank has its own limit.

Did your father leave a will?

H657

Sorry for your loss

I had similar with my Mum when Dad died. We visited the local branch together & Mum had me added as a joint account holder (current & saving a/c) purely so I could administrate all her finances for her as dad had always done. I applied for online access as part of the process & had my own cheque book & debit card which I used whenever I shopped or paid bills for her.

One benefit I hadn’t anticipated at the time was that this was very useful later on when I administrated Mum’s estate as the account remained open in my name.

Otherwise, as keep pedalling suggests, visit the branch (if there is one) and get online access via the LPA.

steveeglon

https://forums.moneysavingexpert.com/discussion/comment/81932012#Comment_81932012

Yes

steveeglon

I suspect that might cause problems with Tax and IHT down the line

Brie

https://forums.moneysavingexpert.com/discussion/comment/81932110#Comment_81932110

What in particular?

Going joint on your mum's accounts means that when she dies the accounts are yours automatically and would not be included in her estate. Would that be an issue with other beneficiaries? Unlikely to be an IHT issue I assume but you would be responsible for half the interest generated on the accounts.

As for IHT in general - is there likely to be any due?