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Account for a vulnerable adult

3 replies

Thornyrose7 · 07/02/2020 14:38

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

OP posts:
lazymum99 · 07/02/2020 14:56

Not sure about the bank account issue but:
If he has over £16,000 in savings any means tested benefits he is on will stop until he gets below that amount. Then the reduction is worked out on a sliding scale.
You are expected to pay living costs, rent etc out of this money. If he is on PIP or contribution based benefits they will not be affected.

Thornyrose7 · 07/02/2020 15:44

Thanks so much for your reply and the info.

OP posts:
SouthWestmom · 07/02/2020 17:41

My cousin is a trustee for her brother who has a lot more held for him. She has to request permission to spend money do there must be more trustees. I know it was complicated because it's not just the benefits it's the access to services etc that they give you.

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