Sorting mums money out re tax.

[Gizmosnana]

DM is 85 and was diagnosed with dementia last October.
Since we (2 DBs as well) were young she has been very secretive about her money.
Which we respected. We do have POA for health and finance this came into place after DD died 20 years ago.
Finally she asked us last week to help as she was getting scared about paying her bills.
I have sorted out her paperwork as it was in different drawers, cupboards and suitcases.
We were shocked about how much money she has but more concerned that most of it is in one bank. It's well above the £85k.
She is paying a lot of tax because she just let it build up. When I have shown her the paperwork she was shocked how much money she has.
Now for my question because of this dementia can she legally see an accountant to move the money into
safer accounts. So it's not in one bank. Or will it be classed as not in full mental health.
We have also finally seen her will which leaves everything between the 3 of us. No other beneficiarys.
Or are we allowed to move the money to another bank as we have POA.

I'd imagine one of the charities that specialises in the welfare of the elderly would be able to point you in the direction of a IFA who can help you.

If you have poa for finance then you can make all the necessary changes. It's too late to change her will though. You need to keep meticulous records of all financial transactions you make because the office of the public guardian can audit you (in theory never known it happen). If you have siblings, even if they don't hold poa it's worth discussing changes to ensure nobody at a later date complains