You can transfer your loyalty points to your loved ones when you die
BRITISH households are missing out on thousands of pounds on store loyalty cards as savvy shoppers forget to add them to their wills, lawyers have warned.
Some shoppers spend years accumulating store loyalty points.
For example, the Sun Online previously revealed how a couple paid for their wedding by saving up a staggering 40,000 supermarket loyalty card points.
But after a lifetime of accumulating points failing to add the card into your will and pass it onto a family member, would mean losing thousands of pounds.
Claire Currie, a partner at a law firm Kirwans, warned customers that they should remember their cards when thinking about their future and urged savvy shoppers to add them to their will.
Speaking to the , Claire said: "These schemes have become increasingly valuable, with some people now sitting on thousands of pounds worth of store, hotel and airline loyalty points, not to mention the amount they may have accumulated in their PayPal accounts.
“Many people don’t realise that many loyalty programmes allow points to be transferred to loved ones in the event of their death – as long as they have been explicitly mentioned in that person’s will.”
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The Sun Online contacted Boots, Tesco and Nectar to find out what were their policies regarding transferring points to a loved one.
Boots said it is possible for any customers to transfer advantage card points to a next of kin but they'll need to discuss the details with the customer care team first.
Tesco confirmed that when a customer calls to close down the account of a family member who has passed away, it is possible to transfer the Clubcard points to another account.
How to make a will, how much does it cost, can it be done for free online and why it’s important
Nectar also confirmed points can be transferred in the event of death.
The warning comes as new rules could soon mean people will be able to use voicemail and text messages to make their wills.
The Law Commission recently recommended allowing courts to view any informal document as a last will and testament.
HOW DO YOU GET A WILL
More than half of Brits risk leaving their families nothing because they don't have a will. Here's what you need to do if you want to make one
- Under current rules, a will must be voluntarily written by someone over the age of 18 who is of sound mind and the document must be signed in front of two witnesses.
- You must list what assets you have and decide who gets what.
- It is possible for people to write their own wills, particularly if their financial affairs are straightforward and they are leaving their entire estate to one person.
- However, many require legal assistance as mistakes or a lack or clarity in how it is drawn up could leave the will invalid.
For example, it would mean the family of a car crash victim who did not make a will could apply to have intentions they expressed in a voice recording or text recognised as one.
Under present inheritance laws, which date back to 1839, wills need to be written and signed by a so-called "testator" as well as two witnesses in order to be valid.
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