LPAs and joint bank accounts
Guidance from Estate Advisory Group
The common assumption is that a joint account keeps working. Many banks restrict the account instead, and the other holder's access can be limited overnight.
What banks actually do
Practice varies by provider. Some allow the capable holder to continue operating the account; others restrict it to essential payments, block cards and online access, or freeze it pending authority for the incapable holder's share. You will not know which until it happens.
Why an LPA still matters
- Sole accounts, ISAs and pensions in one name are unreachable without one.
- A jointly owned house cannot be sold without authority for both owners.
- Investments, insurance and tax affairs are almost never joint.
- Care decisions are not a banking matter at all — that needs a health and welfare LPA.
Practical steps for couples
- Both make financial LPAs, appointing each other with an adult child as replacement.
- Register the LPAs with every provider once they come back — see using an LPA with banks.
- Keep some money accessible to each of you individually, so a restriction is not a crisis.
- Check whether any account or policy is in one name only. Most couples find several.
Common questions
Can I just add my child to my account instead?
It gives them access but also gives them ownership, exposes the money to their creditors and can create tax and benefit problems. An LPA is the cleaner tool.
Does an attorney get access to the joint account?
They act for the donor's interest in it. Banks handle this differently, so ask the provider how they record LPAs over joint accounts.
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This is general information about how Lasting Powers of Attorney work in England and Wales. It is not legal advice about your situation. What we do and do not do.
Published by Estate Advisory Group