Money and Benefits
Managing someone else’s money
If you and the person you are caring for, believe you may need to help them manage their money or day to day banking in the future, it may be worth considering setting up Third-Party Access or Lasting Power of Attorney. Both provide a way of giving a trusted person authority to manage a person’s banking and other financial affairs:
- Third Party Access is where you give a trusted person (a nominee) access to your accounts so they can sort out all your day to day banking. This is set up at your bank and can be cancelled at any time.
- Lasting Power of Attorney is a legal document where an individual can give another person (their attorney) the authority to make certain decisions on their behalf.
To find out more and to register a Power of Attorney, go to https://www.gov.uk/power-of-attorney
City Connections can help you to give you an initial understanding of matters such as Lasting Power of Attorney, and where needed we will put you in contact with other organisations that can give further guidance. Contact us on email@example.com or 020 3957 9844.
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