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Fixed Rate Bond in Joint Names

Rosebay

Registered User
Jul 27, 2014
165
Oxfordshire
We have a bond that is maturing shortly. The funds can be withdrawn with either signature. As I do not have power of attorney would there be anything wrong with me going on line and creating a new bond in joint names knowing full well that my husband does not have the mental capacity to do this for himself. Obviously I wish now that we had taken out the power of attorney but we didn't so I am now unsure what to do. Any help would be appreciated.
 

Maggie42

Registered User
Mar 7, 2011
120
East Midlands
I would try and keep your finances separate from now on as it does lead to problems. You really need to get professional advice about the current bond and any other joint assets. Citizens advice may be able to help as if they don't know the answer they have access to free legal advice.
Good luck. Mags
 

marionq

Registered User
Apr 24, 2013
6,016
Scotland
If you are able to cash it in then better to create an investment for half of it in your own name and the other half in husbands account presumably for his future care.
 

Rosebay

Registered User
Jul 27, 2014
165
Oxfordshire
Accounts in joint names. I found out that even if accounts were in joint names both parties have to have mental capacity. Have managed to get Power of Attorney done. Solicitor was so patient and kind. Fortunately it was a good moment in the day when he came. I really thought I had left it too late and would have to go down the court of protection route


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