Elderly Grandma can't manage her own money

loo

Hello Lovely Money Savers,

my grandma is going into a care home next week. My Aunt has been managing her funds but now we need to invest her house sale and savings money extra wisely to cover the Care Home fees which are nigh on £26,000 a year!!!

Only High St banks seem willing for a 3rd party to manage the account, ie my Aunt - grandmas daughter but all the best rates are online accounts and she needs every penny to earn good interest. Has any-one found an online bank who will allow third party management. It is not appropriate to implement the Court of Protection and my aunt can't save the money as she's a non-tax payer! Help.

Thank you,

Louise :-)

rocketdog_2

Maybe your Aunt should sort out getting Power of Attorney (with your Grans consent) so there is no probelm with a third party when investing your Gran's money on her behalf?

sloughflint

http://forums.moneysavingexpert.com/showthread.html?t=859869
is probably quite relevant for you.
Beware of some places not accepting online access once COP involved but happy before Unfortunately I've forgotten which.
Quiz them well before applying.