A joint account holder is currently in vegetative state or is now of unsound mind. How can I be solely empowered to control the account?

If a joint account holder is in a vegetative state or has been declared of unsound mind, the remaining account holder cannot automatically take full control. Silver Bullion requires a court-issued order confirming the individual’s incapacity before making any changes to the account.

For Singapore-based clients, if the affected account holder had a Lasting Power of Attorney (LPA), the appointed Donee may manage their affairs, but a court order may still be required. If no LPA exists, the Family Justice Courts may appoint a Deputy under the Mental Capacity Act to act on their behalf.

For foreign clients, legal processes depend on their home country. Foreign court orders or legal documents must be notarized, legalized, or apostilled before they can be recognized in Singapore. It is advisable to consult a lawyer to ensure compliance with both local and Singaporean requirements.

Once the necessary documents are submitted, Silver Bullion will review them and proceed accordingly.