Death and Bank Accounts

[Avesovum]

HI,

 

I have a few posts on here about financial issues, my life is getting very complicated.

 

Advice:

 

My wife who is the Grandaughter who looks after her Grandfather as he is ill. Her grandfather has made a will with two executors. 1. His eldist son 2. My wife.

 

Her Grandfather insisted that he opened a joint bank account with my wife to put his savings in so his other sons and daughters couldnt get there hands on it.

 

This account was setup for the Grandfather and (Grandmothers funeral who is now in a home)

 

My question is: When God Forbid her Granfather Dies, have the sons and daughters got any legal rights to this money in the joint bank account as my wife is legally named on the account, can right cheques etc..

 

The reason im asking is that my wife heard a wisper that the other siblings wanted to give them a cheap funeral and pocket the rest. her Grandfather has quite clearly stated he wants a all singing and dancing funeral to celebrate there lifes.

 

Regards

[TheChancellor]

The grandfather needs to see a good solicitor & make a will.

Is the grandmother still capable of making a will?

[Avesovum]

The grandfather needs to see a good solicitor & make a will.

Is the grandmother still capable of making a will?

 

The Grandmother suffers from advanced alzheimer's.

 

The Grandfather has made a will, but are you saying that one of these template wills from the post office has no legal standing and the will is no good in this event?

[gizmo111]

This has been an area of contention for many.

Legally your wife will own what is left in the joint account, but if it is substantial amounts then it could cause all sorts of arguments.

Why/how does the grandfather think the son will pocket the money?

Does the will clearly state his funeral wishes?

And as a final if this is a home made will did your wife witness it?

[Avesovum]

This has been an area of contention for many.

Legally your wife will own what is left in the joint account, but if it is substantial amounts then it could cause all sorts of arguments.

Why/how does the grandfather think the son will pocket the money?

Does the will clearly state his funeral wishes?

And as a final if this is a home made will did your wife witness it?

 

Why/how does the grandfather think the son will pocket the money?

 

Because the Grandfather has had money stolen from his house when his youngest son lived with him but couldnt prove it.

 

Does the will clearly state his funeral wishes?

 

NO.

 

And as a final if this is a home made will did your wife witness it?

 

Yes.

 

The money that is in the bank account amounts to £10,000 which will cover both the funerals the way they want it.

[patdavies]

Why/how does the grandfather think the son will pocket the money?

 

Because the Grandfather has had money stolen from his house when his youngest son lived with him but couldnt prove it.

 

Does the will clearly state his funeral wishes?

 

NO.

 

And as a final if this is a home made will did your wife witness it?

 

Yes.

 

The money that is in the bank account amounts to £10,000 which will cover both the funerals the way they want it.

 

He needs to get a proper will drawn up by a solicitor.

 

This should clearly state his funeral requirements (even down to the hymns if he is so minded).

 

Whilst your wife is a joint signatory on the account, the other relatives could have a claim on the money. He should also arrange an enduring power of attorney if he still wishes your wife to act for him

 

Also, you can't be a beneficiary of a will that you witness.

 

Family squabbles over wills can be very acrimonious and can go on for generations - best get a proper will sorted to minimise the grounds for argument.