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Financial support for elderly neighbour

edited 30 May 2019 at 9:59AM in Over 50s Money Saving
15 replies 7.3K views
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  • REJPREJP Forumite
    177 posts
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    Citizens Advice Bureau will give help in telling her how to cope, as well as Age Concern.
    A passing comment, assuming she lives alone, has she told her local Council Tax office, as she is entitled to a 25% discount if so.
    Power of Attorney in my case cost a lot of money, but not suitable for some vulnerable people.
    I believe she only has to pay tax on savings interest if it is more than £1,000 per annum. If she has savings at that level then an Independent Financial Adviser from her bank might be a good idea.
    Thank you for being a good neighbour.
  • Savvy_SueSavvy_Sue Forumite
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    REJP wrote: »
    If she has savings at that level then an Independent Financial Adviser from her bank might be a good idea.
    That's a bit of a contradiction. Either it's an INDEPENDENT financial adviser, or it's one from her bank, who will only know about the bank's products.

    I'd go for Indie every time ...
    Still knitting!
    Completed: TWO adult cardigans, 3 baby jumpers, 3 shawls, 1 sweat band, 3 pairs baby bootees, 2 sets of handwarmers, 1 Wise Man Knitivity figure + 1 sheep, 2 pairs socks, 3 balaclavas, multiple hats and poppies, 3 peony flowers, 4 butterflies ...
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  • LadyDeeLadyDee Forumite
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    Certainly source as much help as you can for her from bodies such as Age Concern, but whatever you do, do not get involved in her personal affairs, or agree to manage her finances. Sure as eggs, some previously unknown relative will pop out of the woodwork after the funeral. Be her friend by all means, just ensure you don't find yourself in the position of being accused of exerting any influence in regards to her money.

    Not personal experience but one that an acquaintance found themselves facing a few years ago - it came close to ending very badly.
  • TELLIT01TELLIT01 Forumite
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    I agree that getting an independant party involved would be prudent. Age UK (formed from Age Concern and Help the Aged) would seem to be a good start point for advice on the best way to move forward.
  • missymoneypennymissymoneypenny Forumite
    10 posts
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    MoneySaving Newbie
    Age UK are very good, and also provide befriending for isolated folks and other services - "Call our free, confidential advice line on 0800 678 1602. We're open 8am-7pm, 365 days a year"
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