Financial Guardians: increase to independent financial advice limit

Sandra McDonald, Public Guardian, has changed the threshold relating to when financial guardians should seek independent financial advice when managing an incapable adult’s estate.

The Public Guardian has reviewed and increased the limit to £50,000. This became effective yesterday.

Financial guardians must take proper financial advice when managing and dealing with an incapable adult’s investments.

This means that financial guardians must seek independent financial advice when the adult’s estate is over £50,000.