# Adding relatives name to elderly bank account



## irishmoss (23 Aug 2009)

Our family has nominated one of the siblings to add thier name to a parents bank account so that in the event of the parent needing medical care/nursning home care that we can access to funds.

My sister brought my mother to the bank and the teller filled out a handwritten note saying something along the lines of I xxxx give xxxx permission to access the account. My mother then signed the letter. This was Permanent TSB. I don't think they took a copy of my sisters signature or asked for identification. They said they didn't need proof of address bill payments etc.

Is that enough for us to enable us to get access to the funds should we need to do so? I thought it would be more formal to get this done, at the least some official form by the bank should have been filled in but the teller just wrote this handwritten note.

Our main concern is that we can provide private health care should my mother need it and rather then going the messy route of a joint bank account we simply want accesss to the funds should a situation arrise and my mother cannot/ unable get to the bank.


----------



## justsally (23 Aug 2009)

Would this thread be of any help to you:-

http://www.askaboutmoney.com/showthread.php?t=119048&highlight=joint+account

I appreciate that you are not thinking in terms of relative's death but it might be helpful nevertheless.

Cheers


----------



## mf1 (23 Aug 2009)

There are a few large issues to be considered here.

I have just started the process of dealing with the accounts of two elderly relatives. 

In one case, I have taken the approach of being attached as an authorised signatory on all accounts. The process was quite rigorous : i.d.( passport, utility bill and a new thing PPS numbers). This means that the beneficial owner of the account is the primary account holder but has authorised me to be a signatory. It also means that she retains the benefit of having DIRT not deducted from her account - this cannot be the case if I was a joint account holder. In due course, I have an Enduring Power of Attorney and should we get to the stage  that she is no longer capable of managing her affairs ( as opposed  to simply not being physically very mobile) I will register the EPA and act as her attorney.

In the other  case, the bank refused to accept a Power of Attorney to enable me to act on an aunts behalf and I had to get a medical  certificate confirming that she was compos mentis and I can now access her funds. 

I strongly suggest that an EPA be drawn up for OP's family member so that funds can be accessed in due course. The joint account is also a terrific idea - and even if it seems a bit of a faff , you have to anticipate what will happen down the line.

mf


----------



## irishmoss (24 Aug 2009)

Thank you for both replies.

We haven't an EPA set up, so as it stands does it mean that the extra signatory we have now may not be be of any use in the future if god forbid she was not capable mentally to take care of her affairs?

I'm confused now though as to what the extra signature we have is worth? If say for example she needed nnursing home care would we be able to pay for those from her account with the extra signature we have in place?


----------

