I’m one of the Attourneys for my wife’s bank account. I would say my wife still has mental capacity to understand the things we talk about but does need help accessing her online banking. My question is this we want to create more accounts within her account to try and get a better rate of interest....Should I with my wife’s knowledge ie she will be sitting next to me as transfer money from one of her accounts into a better one that we hopefully create use her online banking app signed in as her or should I sign into my online bank and then switch to my wife’s account to manage it as her attorney and create a better savings account and maybe a bond...?
Opening more accounts within an original account to manage money better
- Thread starter Johnarh
- Start date
Thanks.....I think your approach is the best way, being able to sit with your mum and both doing what can be a complex thing makes it easier for both of you.....I’m going to do the same, We got so many people saying you must get POA sorted it was a nightmare I filled in all the forms myself ( having to get three sets printed to replace the ones I made a mistake on ) then getting witnesses etc then posting and waiting.....and as if that’s not enough having to create an account on Gov. Web site then figuring out how to register etc.....really appreciate your reply....glad I joined the site, I feel less alone
Am glad that helped - you’re definitely not alone here - we all understand the frustrations. POA has been so stressful at times. personally I try to involve mum as much as she is able in everything- that’s how I would like to be treated. Even tho she is now late stage she still gets the value of money so when it comes to birthday gifts for example she chooses the amounts she wishes to give etc
My sister and I have POA for both my parents. Mum has dementia, but it’s Dad who sorts out her finances at the moment. She’s still ‘with it’ enough to want as much interest as possible, so things like ISAs and juggling her cash into accounts with better interest rates, are things she understands on a basic level.
Thanks...I feel like I’m being treated as I’m also suffering from Alzheimer’s it’s hard to explain my niece keeps asking should she do this or that, I said that as I’m fully compis mentis I’d like to manage my wife’s accounts myself...even though she didn’t do anything wrong she moved money from one of my wife’s accounts into another at the time I was trying to put money from our current account into a bond the whole situation has now devolved my niece saying some really nasty things about me and my wife....I shouldn’t really be putting this onto members of the forum, just need place to let off steam...
