133 The rules for making gifts under a Power of Attorney, with Holly Mieville-Hawkins
A few weeks ago Holly joined us on the podcast to discuss what happens when you die without a will in place. This week we welcome Holly back to discuss the rules of making gifts when you are acting in the role of an attorney under a Power of Attorney. Most people want to mitigate the inheritance tax their estate will pay, and this need becomes more important as people get closer to the end of their life, even when they have lost mental capacity. One way to reduce inheritance tax is to gift some of your asset. But there are some complex rules around gifting, especially if you are gifting on behalf of someone when acting as their Power of Attorney. Holly is a solicitor who specialises in the Court of Protection and Mental Capacity. She is part of the Wills and Equity Committee at The Law Society which consults the government on issues around mental capacity and Lasting Powers of Attorney. She is a fountain of knowledge on this topic. In our conversations we discuss the important role that attorneys play, how to understand what a donor’s “best interest” is and what this means for gifting, and the main rules for gifting when acting under a Power of Attorney.