village idiot
Registered User
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- 31
Hi All, Hope you are well.
My father and I are thinking of setting up a joint account for him as he ages and progresses into dementia unfortunately.
But i want to be sure about any potential tax liability I risk by doing this first. I would be putting no money of my own into this account. He would be putting a lump sum and his ongoing pension into it. And its purpose is to look after things for him as we move forward.
Am I opening myself up to any liability? Are there some things I should do first maybe?
All advice gratefully received, thanks.
My father and I are thinking of setting up a joint account for him as he ages and progresses into dementia unfortunately.
But i want to be sure about any potential tax liability I risk by doing this first. I would be putting no money of my own into this account. He would be putting a lump sum and his ongoing pension into it. And its purpose is to look after things for him as we move forward.
Am I opening myself up to any liability? Are there some things I should do first maybe?
All advice gratefully received, thanks.