Can I make gifts as a Power of Attorney? It’s a common question, and the answer is yes – but there are strict rules to be adhered to. Neil MacGillivray, Head Of Technical Support at James Hay explains.
Have you written your Will? According to a survey by Prudential in 2016, over half (59 per cent) of UK adults have not written a Will. This means that if they die, their money, property and possessions will be shared out according to the law rather than their wishes.
No one wants to think about what might happen when they’re no longer around. But making a Will and discussing it with your family can clarify your plans and help family members prepare for the future, particularly younger generations.
Do you have a Will?
If you don’t have a Will (or need to update it) you can choose to write your own Will, or get help from a Will Writing service or a Solicitor. There are many reasons to ask for advice when writing your Will, such as:
- To resolve complicated family situation (perhaps with former partners)
- To protect young children or a disabled family member
- Peace of mind
- To pay inheritance tax
- To declare any debts and how they should be paid
*Please note Wren Sterling does not offer Will Writing advice but we have professional partners that offer this service