Managing someone else's bank account made easier

Are you currently managing finances and a bank account for another person? Then read ahead…

A new framework was announced today on the Law Society's website aiming to help those managing an account on someone else's behalf.

The universal framework was produced by The Law Society, the British Bankers' Association (BBA), the Building Societies Association (BSA), the Office of the Public Guardian (OPG), and other partners.

After many solicitors had reported the problems that families were faced with when managing a family member's account, the Law Society decided to develop a framework that would tackle these restraints especially as so many families were already coping with the emotional stress of caring for a loved one.

Banks and building societies will now be able to assist those who are managing accounts for someone who is elderly or unable to manage their own finances, which will resolve many of the issues and complex administration often faced by people managing someone else's finances.

The framework will also help staff at banks and building societies to recognise and understand Lasting Powers of Attorney, Deputyship Orders and any arrangements from a third party on the account.

Here at Ross Legal, we can assist you with all matters relating to Probate, Power of Attorney, Lasting Powers of Attorney and Wills. Whilst we are based in our office in Prestwich near Manchester we can also offer our services to customers throughout England and Wales.

Please contact us to discuss your requirements.

Ross Legal LLP
Probate, Power of Attorney & Wills Solicitors
Manchester, Prestwich, Whitefield