Hi a few years ago I had money when I retired so I bought premium bonds and operate them online.I decided I would buy some premium bonds for my adult son and opened an account online because he has Severe Learning Disabilities and does not understand money. I since found out after I wrote to NSANDI(national savings and investments) that I couldn’t do that unless I was a Deputy or had Power of Attorney. I am now thinking that should I apply for deputy which costs a bit£400 and ongoing payments each year or wondering if anyone has any other way around it?I ask this because he received some back money from DWP like a lot of people and aI put this in premium bonds but then promptly took it out because he would have had more than £6000 which is the limit for I think ESA and if you have this amount then for every £250 you get £1 less…I will save it some other way but can I open a live trust and become a trustee(NSANDI said trustees can purchase premium bonds)?
Welcome to FamilyHub. We're all here because we care about learning disability. Some of us will have questions, and most of us will have stories to share.
Take a look around, have a nosey, start a conversation. This is your community.
