20k to save, but 2 signatures to withdraw

7 Posts


My brother and I are getting 20k from our mother to put into a savings account, but can only be withdrawn on both our signatures.
Money will not be withdrawn very often(hopefully not at all). And the two of us are tax payers.
I would love to know what options we have....
Thank you.
Money will not be withdrawn very often(hopefully not at all). And the two of us are tax payers.
I would love to know what options we have....
Thank you.
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Now why would she make that stipulation.
Is it "a gift with reservation" ? It sounds like one to me.
It beggars Unbelievable to think that was what I was suggesting. I meant give each son £10,000 and let them put it into their own accounts, one of which could be an ISA. I don't know why I didn't just say that in the first place
Yes it is for reservation, we can't really touch it until she passes away, she says. Possibly we could delve into it, but only for emergencies...
And we can't split it 50/50.....
So ISA's are my best bet then?
Can withdrawls be made from two signatures?
It probably rules out most of the internet access accounts too because of the two signatures for withdrawal thing.