How do people manage with a bank account for their person with a learning disability?
The existing account that benefits are paid into is in mother's name, however, if she passes away then the account is frozen. Sister has now become a joint on the account, however, if something was to happen to both then the account would be frozen and is taken as part of their estate! As person with LD is unable to read, write, and comprehend terms and conditions of opening a bank account then Banks aren't allowing them to have an account in own name! Such a conundrum!
The simplest way of covering this is to have a named person(s) made Appointee(s) of his/her benefits. That way it is clear the funds in the account are not the Appointee's and cannot be used as part of their estate.
The DWP will assess both the person with LD and the person wishing to become an Appointee. It is a free service and a legal document is provided. It does only cover for the control of the LD individual's benefits. The Appointee is also liable to report changes of circumstances, changes to the health of the individual and it also their responsibility to apply, complete and sign benefit claim forms as the Appointee.
I'm not sure if only one person can be named or more.
I would have thought the person with LD should be on joint account with either mother or sister, whoever is appointee for the person with LD. The person with LD wouldn’t be able to have account in their name only but a joint account with appointee is ok. His or her benefits should be paid into this account only and the mother should open an account in her name only and have her benefits paid into that account so they are separate. This would solve the problem if the appointee passed away as the person with LD would still be able to access his/ her money, obviously with some support from either a family member or support staff, whoever is supporting them at the time.
My son has an account in his name with RBS and I am his appointee and as such manage it. His regular direct debits go into a Santander account for which he has a passbook. He goes into the branch with support and they look after him well. I have let my other children know , as his trustees, what money is his when I die.
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My cousin has some learning disabilities, which doesn't mean he doesn't have the right to do what he likes. He suddenly has a great interest in investing and trading and cryptocurrency. I understand that this might be too much for him so I suggested he create an account with SingularityDAO app. This gave him the opportunity to do automated trading and investing in dynasets. It is the easiest choice for him and yet he can enjoy all the benefits. What do you think about this way of encouraging his desires? Should I have done that?
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