My brother has approx. £17,000 owing to him from an inheritance. He has learning difficulties, so he has issues with money and this would overwhelm him. My sister and I have agreed to open an account and give him the money over time and pay for the things he needs.
I am wondering what the best set up should be. It would need to be a joint access account for me and my sister. I first thought a Trust, but my sister doesn't think so. I think we would need easy access to the money in case of emergencies. I don't want the money to cause tax problems for us or benefit problems for my brother.
Can anyone advise?
Many thanks.
Can anyone advise