Joint Bank Account

NanLorac

Registered User
May 14, 2012
686
0
Scotland
My husband has been in respite for 4 weeks and is moving into another care home permanently next Wednesday. Cameron is only 66 and in June we found out he has Posterior Cortical Atrophy. He has deteriorated very fast the past few months, so instead of the bathroom becoming a wet room and a wheelchair ramp being built outside he needs full time care.

Cameron will be self funding for a few months before his assets are down to the limit here in Scotland and he will get help from the LA. He will receive free personal care and nursing cost from the start.
What I need to know is do I change our join bank account into two separate accounts on Wednesday when he enters full time care?
 

marionq

Registered User
Apr 24, 2013
6,449
0
Scotland
I have found that having a single account in my own name as well as the joint account for us both works well. Anything that is purely my responsibility comes out of my account. I have both accounts online and can check daily what is needed and move monies as needed between the two.

When the SS did a financial assessment they were happy with my arrangements.
 

LynneMcV

Volunteer Moderator
May 9, 2012
6,112
0
south-east London
I am so sorry to hear of Cameron's quick deterioration.

I have a similar banking arrangement to Marion. My husband is still at home but I felt it would be easier to get into the habit early on of keeping our joint account for joint responsibilities and have two separate accounts for our individual income. I manage the accounts online and just feed the necessary money into the joint account as needed.
 
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NanLorac

Registered User
May 14, 2012
686
0
Scotland
Thanks that's a help. I don't get my pension for 4yrs and I'm not running to get a job as I want to spend as much time with Cameron as I can. 1st of January 2016 I wrote in the front of my diary ' Cameron has lost so much in the past year, where will we be next January 1st', never thinking for a minute he would be in a Care home.

Marion I haven't done the financial assessment yet. I just told them he would be paying just now and I can do the assessment at the start of the year. Unfortunately my husband is not in a good care home and this has been a stressful 4 weeks. I have silly things like premium bonds to find out about, another silly thing I need POA for and he probably has only £10 worth.
 

marionq

Registered User
Apr 24, 2013
6,449
0
Scotland
Just make sure Nan that you are not including your own funds in his care. Small stuff like you describe are probably best cashed in for tidiness but you'll find that SS only want the bottom line rather than itty bitty detail. I was willing to discuss everything openly but a brief look at the totals was all that was wanted so nothing to fear.
 

arielsmelody

Registered User
Jul 16, 2015
515
0
I have found that having a single account in my own name as well as the joint account for us both works well. Anything that is purely my responsibility comes out of my account. I have both accounts online and can check daily what is needed and move monies as needed between the two.

When the SS did a financial assessment they were happy with my arrangements.

Would it be OK to set up at this point though? Because if the OP opens up a new account for herself, and moves half the money into it, all the money in the joint account is still shared between herself and her husband, so she then effectively becomes entitled to half of that, so she gets three quarters and her husband one quarter. But maybe I'm overthinking it.
 

marionq

Registered User
Apr 24, 2013
6,449
0
Scotland
When I opened my single account I didn't put half of the JA into it. I put my pensions into it as well as direct debits for things like council tax and broadband etc which are not John's responsibility. Had I felt that what was in the JA should be split then I would have done. Once the money going into it is sorted then the money coming out of it is straight forward.

You make a good point though.
 

NanLorac

Registered User
May 14, 2012
686
0
Scotland
Arielsmelody, Cameron's pensions will go into the joint account and his care home fees will come out. All the household bills and thing else will come out of my half of the joint account that I'm moving.
 

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