Lots of people tell us that they add a child onto their bank account to help them access their money when they are getting older or more frail. Most don’t realise that the contents of that bank account will pass automatically to that child when they die. This can mean that on your death one child receives all of your money from that account regardless of what your Will says or who else you wanted to leave money to.
This is why we strongly advise people to seek advice when making decisions about managing their finances for later life and in planning for death.
These are some of the things we can discuss with you:
The best way to make sure your money is managed well if you lose the ability to do that yourself in the future.
Reviewing your current arrangements to make sure that you have everything in place correctly.