Go Back  British Expats > Living & Moving Abroad > USA > The Trailer Park
Reload this Page >

Should I add my wife to my UK accounts?

Should I add my wife to my UK accounts?

Old Feb 20th 2017, 8:58 pm
  #1  
Lost in BE Cyberspace
Thread Starter
 
mrken30's Avatar
 
Joined: Jul 2008
Location: Portlandia Metro
Posts: 7,425
mrken30 has a reputation beyond reputemrken30 has a reputation beyond reputemrken30 has a reputation beyond reputemrken30 has a reputation beyond reputemrken30 has a reputation beyond reputemrken30 has a reputation beyond reputemrken30 has a reputation beyond reputemrken30 has a reputation beyond reputemrken30 has a reputation beyond reputemrken30 has a reputation beyond reputemrken30 has a reputation beyond repute
Default Should I add my wife to my UK accounts?

If I add my wife to my UK accounts, I assume she will be required to file FBAR. If I don't add her, it makes it more difficult for her to manage my accounts in the event of my death.

Maybe this is a pointless question, because I would have to jump to many hurdles to add her.
mrken30 is offline  
Old Feb 20th 2017, 9:23 pm
  #2  
Account Closed
 
Joined: Aug 2002
Location: Kentucky
Posts: 38,865
ian-mstm has a reputation beyond reputeian-mstm has a reputation beyond reputeian-mstm has a reputation beyond reputeian-mstm has a reputation beyond reputeian-mstm has a reputation beyond reputeian-mstm has a reputation beyond reputeian-mstm has a reputation beyond reputeian-mstm has a reputation beyond reputeian-mstm has a reputation beyond reputeian-mstm has a reputation beyond reputeian-mstm has a reputation beyond repute
Default Re: Should I add my wife to my UK accounts?

Originally Posted by mrken30
Maybe this is a pointless question...
It is.

Ian
ian-mstm is offline  
Old Feb 20th 2017, 10:06 pm
  #3  
Heading for Poppyland
 
robin1234's Avatar
 
Joined: Jul 2007
Location: North Norfolk and northern New York State
Posts: 14,452
robin1234 has a reputation beyond reputerobin1234 has a reputation beyond reputerobin1234 has a reputation beyond reputerobin1234 has a reputation beyond reputerobin1234 has a reputation beyond reputerobin1234 has a reputation beyond reputerobin1234 has a reputation beyond reputerobin1234 has a reputation beyond reputerobin1234 has a reputation beyond reputerobin1234 has a reputation beyond reputerobin1234 has a reputation beyond repute
Default Re: Should I add my wife to my UK accounts?

Originally Posted by mrken30
If I add my wife to my UK accounts, I assume she will be required to file FBAR. If I don't add her, it makes it more difficult for her to manage my accounts in the event of my death.

Maybe this is a pointless question, because I would have to jump to many hurdles to add her.
No, you would just need to file a joint FBAR instead of an individual one. (Unless she has her own individual foreign accounts, in addition to accounts owned jointly with you.)
robin1234 is offline  
Old Feb 20th 2017, 10:20 pm
  #4  
Concierge
 
Rete's Avatar
 
Joined: Apr 2001
Posts: 46,358
Rete has a reputation beyond reputeRete has a reputation beyond reputeRete has a reputation beyond reputeRete has a reputation beyond reputeRete has a reputation beyond reputeRete has a reputation beyond reputeRete has a reputation beyond reputeRete has a reputation beyond reputeRete has a reputation beyond reputeRete has a reputation beyond reputeRete has a reputation beyond repute
Default Re: Should I add my wife to my UK accounts?

Originally Posted by mrken30
If I add my wife to my UK accounts, I assume she will be required to file FBAR. If I don't add her, it makes it more difficult for her to manage my accounts in the event of my death.

Maybe this is a pointless question, because I would have to jump to many hurdles to add her.
Originally Posted by ian-mstm
It is.

Ian
I am not a signatory to my husband of 18 years bank accounts in Canada. If I were, not only would I have to list them here in the states, I would be liable to pay taxes on them in Canada. Hence, I am not on his accounts. As his legal wife, upon his death (if he goes first), his accounts revert automatically to me. FTR, he is not listed on my bank accounts here in states either. Our finances have always been separate.
Rete is offline  
Old Feb 20th 2017, 10:24 pm
  #5  
Lost in BE Cyberspace
Thread Starter
 
mrken30's Avatar
 
Joined: Jul 2008
Location: Portlandia Metro
Posts: 7,425
mrken30 has a reputation beyond reputemrken30 has a reputation beyond reputemrken30 has a reputation beyond reputemrken30 has a reputation beyond reputemrken30 has a reputation beyond reputemrken30 has a reputation beyond reputemrken30 has a reputation beyond reputemrken30 has a reputation beyond reputemrken30 has a reputation beyond reputemrken30 has a reputation beyond reputemrken30 has a reputation beyond repute
Default Re: Should I add my wife to my UK accounts?

Originally Posted by Rete
I am not a signatory to my husband of 18 years bank accounts in Canada. If I were, not only would I have to list them here in the states, I would be liable to pay taxes on them in Canada. Hence, I am not on his accounts. As his legal wife, upon his death (if he goes first), his accounts revert automatically to me. FTR, he is not listed on my bank accounts here in states either. Our finances have always been separate.
This is along the lines of my thinking. If we ever file separately she would have to include the income whatever. Maybe just easier to keep them apart. You probably need passports, finger prints and body parts to add a non UK resident to a UK account.
mrken30 is offline  
Old Feb 20th 2017, 10:30 pm
  #6  
Lost in BE Cyberspace
Thread Starter
 
mrken30's Avatar
 
Joined: Jul 2008
Location: Portlandia Metro
Posts: 7,425
mrken30 has a reputation beyond reputemrken30 has a reputation beyond reputemrken30 has a reputation beyond reputemrken30 has a reputation beyond reputemrken30 has a reputation beyond reputemrken30 has a reputation beyond reputemrken30 has a reputation beyond reputemrken30 has a reputation beyond reputemrken30 has a reputation beyond reputemrken30 has a reputation beyond reputemrken30 has a reputation beyond repute
Default Re: Should I add my wife to my UK accounts?

Originally Posted by robin1234
No, you would just need to file a joint FBAR instead of an individual one. (Unless she has her own individual foreign accounts, in addition to accounts owned jointly with you.)
She does not have any UK accounts.
mrken30 is offline  
Old Feb 20th 2017, 11:22 pm
  #7  
Crazy Cat Lady
 
moneypenny20's Avatar
 
Joined: Apr 2004
Posts: 65,493
moneypenny20 has a reputation beyond reputemoneypenny20 has a reputation beyond reputemoneypenny20 has a reputation beyond reputemoneypenny20 has a reputation beyond reputemoneypenny20 has a reputation beyond reputemoneypenny20 has a reputation beyond reputemoneypenny20 has a reputation beyond reputemoneypenny20 has a reputation beyond reputemoneypenny20 has a reputation beyond reputemoneypenny20 has a reputation beyond reputemoneypenny20 has a reputation beyond repute
Default Re: Should I add my wife to my UK accounts?

Originally Posted by mrken30
This is along the lines of my thinking. If we ever file separately she would have to include the income whatever. Maybe just easier to keep them apart. You probably need passports, finger prints and body parts to add a non UK resident to a UK account.
Husband tried to add me to his UK First Direct account. No way as we live overseas. He better not die first.
moneypenny20 is offline  
Old Feb 20th 2017, 11:41 pm
  #8  
Lost in BE Cyberspace
Thread Starter
 
mrken30's Avatar
 
Joined: Jul 2008
Location: Portlandia Metro
Posts: 7,425
mrken30 has a reputation beyond reputemrken30 has a reputation beyond reputemrken30 has a reputation beyond reputemrken30 has a reputation beyond reputemrken30 has a reputation beyond reputemrken30 has a reputation beyond reputemrken30 has a reputation beyond reputemrken30 has a reputation beyond reputemrken30 has a reputation beyond reputemrken30 has a reputation beyond reputemrken30 has a reputation beyond repute
Default Re: Should I add my wife to my UK accounts?

Originally Posted by moneypenny20
Husband tried to add me to his UK First Direct account. No way as we live overseas. He better not die first.
That is a point, if he dies first how do you get access to the accounts? Maybe I should add a UK family member and hope they don't run off with the money.
mrken30 is offline  
Old Feb 21st 2017, 12:46 am
  #9  
Crazy Cat Lady
 
moneypenny20's Avatar
 
Joined: Apr 2004
Posts: 65,493
moneypenny20 has a reputation beyond reputemoneypenny20 has a reputation beyond reputemoneypenny20 has a reputation beyond reputemoneypenny20 has a reputation beyond reputemoneypenny20 has a reputation beyond reputemoneypenny20 has a reputation beyond reputemoneypenny20 has a reputation beyond reputemoneypenny20 has a reputation beyond reputemoneypenny20 has a reputation beyond reputemoneypenny20 has a reputation beyond reputemoneypenny20 has a reputation beyond repute
Default Re: Should I add my wife to my UK accounts?

Originally Posted by mrken30
That is a point, if he dies first how do you get access to the accounts? Maybe I should add a UK family member and hope they don't run off with the money.
I'm hoping as long as I have birth, marriage and death certificates along with a will it'll be relatively straightforward. Yeah right!
moneypenny20 is offline  
Old Feb 21st 2017, 7:49 am
  #10  
Heading for Poppyland
 
robin1234's Avatar
 
Joined: Jul 2007
Location: North Norfolk and northern New York State
Posts: 14,452
robin1234 has a reputation beyond reputerobin1234 has a reputation beyond reputerobin1234 has a reputation beyond reputerobin1234 has a reputation beyond reputerobin1234 has a reputation beyond reputerobin1234 has a reputation beyond reputerobin1234 has a reputation beyond reputerobin1234 has a reputation beyond reputerobin1234 has a reputation beyond reputerobin1234 has a reputation beyond reputerobin1234 has a reputation beyond repute
Default Re: Should I add my wife to my UK accounts?

Originally Posted by moneypenny20
I'm hoping as long as I have birth, marriage and death certificates along with a will it'll be relatively straightforward. Yeah right!
Pride and Prejudice, I can't remember the exact quote now...

Mrs Bennett says, oh dear, when you die, I'll be thrown out of this house! It's so unfair!!

Mr Bennett responds, let's look on the bright side. Maybe you'll die first.
robin1234 is offline  
Old Feb 21st 2017, 10:02 am
  #11  
Crazy Cat Lady
 
moneypenny20's Avatar
 
Joined: Apr 2004
Posts: 65,493
moneypenny20 has a reputation beyond reputemoneypenny20 has a reputation beyond reputemoneypenny20 has a reputation beyond reputemoneypenny20 has a reputation beyond reputemoneypenny20 has a reputation beyond reputemoneypenny20 has a reputation beyond reputemoneypenny20 has a reputation beyond reputemoneypenny20 has a reputation beyond reputemoneypenny20 has a reputation beyond reputemoneypenny20 has a reputation beyond reputemoneypenny20 has a reputation beyond repute
Default Re: Should I add my wife to my UK accounts?

Originally Posted by robin1234
Pride and Prejudice, I can't remember the exact quote now...

Mrs Bennett says, oh dear, when you die, I'll be thrown out of this house! It's so unfair!!

Mr Bennett responds, let's look on the bright side. Maybe you'll die first.
Good book.
moneypenny20 is offline  
Old Feb 23rd 2017, 5:50 pm
  #12  
 
lansbury's Avatar
 
Joined: Apr 2005
Location: Milwaukie, Oregon
Posts: 9,961
lansbury has a reputation beyond reputelansbury has a reputation beyond reputelansbury has a reputation beyond reputelansbury has a reputation beyond reputelansbury has a reputation beyond reputelansbury has a reputation beyond reputelansbury has a reputation beyond reputelansbury has a reputation beyond reputelansbury has a reputation beyond reputelansbury has a reputation beyond reputelansbury has a reputation beyond repute
Default Re: Should I add my wife to my UK accounts?

Originally Posted by moneypenny20
I'm hoping as long as I have birth, marriage and death certificates along with a will it'll be relatively straightforward. Yeah right!
When my mum died once we had probate on her will, I just took the paperwork into the bank and they gave me control of her accounts.
lansbury is offline  
Old Feb 23rd 2017, 6:12 pm
  #13  
Lost in BE Cyberspace
Thread Starter
 
mrken30's Avatar
 
Joined: Jul 2008
Location: Portlandia Metro
Posts: 7,425
mrken30 has a reputation beyond reputemrken30 has a reputation beyond reputemrken30 has a reputation beyond reputemrken30 has a reputation beyond reputemrken30 has a reputation beyond reputemrken30 has a reputation beyond reputemrken30 has a reputation beyond reputemrken30 has a reputation beyond reputemrken30 has a reputation beyond reputemrken30 has a reputation beyond reputemrken30 has a reputation beyond repute
Default Re: Should I add my wife to my UK accounts?

Originally Posted by lansbury
When my mum died once we had probate on her will, I just took the paperwork into the bank and they gave me control of her accounts.
It was a similar thing with my dad. I seem to remember something like they would only allow certain expenses to be paid, such as funeral expenses, before it had gone through probate. The accounts were eventually closed, but I think that was after probate.
I think will be easier for my wife to keep a UK account for my DB pension to be paid into.
mrken30 is offline  
Old Feb 23rd 2017, 11:13 pm
  #14  
Crazy Cat Lady
 
moneypenny20's Avatar
 
Joined: Apr 2004
Posts: 65,493
moneypenny20 has a reputation beyond reputemoneypenny20 has a reputation beyond reputemoneypenny20 has a reputation beyond reputemoneypenny20 has a reputation beyond reputemoneypenny20 has a reputation beyond reputemoneypenny20 has a reputation beyond reputemoneypenny20 has a reputation beyond reputemoneypenny20 has a reputation beyond reputemoneypenny20 has a reputation beyond reputemoneypenny20 has a reputation beyond reputemoneypenny20 has a reputation beyond repute
Default Re: Should I add my wife to my UK accounts?

Originally Posted by lansbury
When my mum died once we had probate on her will, I just took the paperwork into the bank and they gave me control of her accounts.
That's how it worked when my mum died. My concern is us being in Aus and having them tell me I have to present paperwork in person although that's impossible with First Direct but I can't imagine it will be straightforward.
moneypenny20 is offline  
Old Feb 23rd 2017, 11:51 pm
  #15  
Lost in BE Cyberspace
Thread Starter
 
mrken30's Avatar
 
Joined: Jul 2008
Location: Portlandia Metro
Posts: 7,425
mrken30 has a reputation beyond reputemrken30 has a reputation beyond reputemrken30 has a reputation beyond reputemrken30 has a reputation beyond reputemrken30 has a reputation beyond reputemrken30 has a reputation beyond reputemrken30 has a reputation beyond reputemrken30 has a reputation beyond reputemrken30 has a reputation beyond reputemrken30 has a reputation beyond reputemrken30 has a reputation beyond repute
Default Re: Should I add my wife to my UK accounts?

Originally Posted by moneypenny20
That's how it worked when my mum died. My concern is us being in Aus and having them tell me I have to present paperwork in person although that's impossible with First Direct but I can't imagine it will be straightforward.
We did go to the bank in person when I was dealing with my dad's accounts. I am not sure if there is an easy answer to this. being in Aus, you don't have the FBAR issues.

I may call HSBC tomorrow to see what the requirements are to add a non UK resident to an account. I think it may be impossible,
mrken30 is offline  

Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service -

Copyright © 2024 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.