Basically my nan is developing dementia and she has asked me to take control of her finances for her by moving all the money into an account in my name so that I am able to just do whatever she needs for her as it was also causing her a lot of stress having the money herself as she wants me to have it when she passes and due to her declining mental state she has been worrying that she has none.
Now, she has two bank accounts, one had 20k in it which she closed and transferred all the money into my new account. The second has 24k and growing due to her pension and we can't close this account as her pension goes into it but we also can't transfer it across as apparently due to the type of account it is your not able to make transfers. So I've been taking out £600 a week and then every so often I am going to deposit this a few thousand at a time into my account and just move the money slowly. She also wants this doing as then when I inherit it I won't have to pay inheritance tax on £45k but maybe just a few thousand.
I'm worried that making these cash deposits into my account of a few grand at a time might make it look like I'm money laundering or have aqquired the money suspiciously. Is there a better way to go about this? I'm also worried that if her dementia gets really bad to a point where she's unaware of having asked me to do this and it's looks suspicious I would be unable to prove that I haven't just stole the money from her. This wouldn't be an issue with the first 20k as the bank checked it was all coshure but this wouldn't be known by the second bank
Submitted April 04, 2019 at 02:25PM by SqaueEarthConspiracy http://bit.ly/2uLq07Z
