Adding Name to Post Office Account

[bobzimmerman]

Hey,

I was not sure of where to post this so I will give it a try here.

Is it possible/difficult to add a name to an already existing Post Office savings account? For example, an elderly relation wants to add another name to their account so that in the event of illness/death there would be no complications for the will beneficiaries in gaining access to the account. Sounds a little morbid and horrible but it has come up nonetheless.

 

[irishmoss]

You can add a name but bear in mind the tax implications. DIRT is exempt for the over 65 i think. Adding your name in a joint account may cause problems

We just got my mother to sign a piece of paper in the presence of the bank employee authorizing my sister to manage her account. We now pay all her bills through this account and have no problems.