A warm welcome to guests, visitors and subs including Amanda Partington from Coaching Hub Sports, Bob Gordon from Acorn Computer Recycling, Dan Asprey from CineRobota Video Production, Karen Barratt from Heath Insurance, Mark Lancaster from Cycle Retreats, Mark Whylie from Copperleaf Group, Paul Williams from Acorn Electrical Electrical, Stacey Whitney from Mosaic Digital Media, Richard Wilding from ITglu and Steve Woodrow from Mustang Digital.
This week’s end slot was delivered by Julie Antonelli. She talked about testimonials, a written declaration. These can influence decision that people make on a daily basis. If you use service or product from within the room, please take the time to write about it. Go into details about what was provided and what was so good about it and how it has helped you.
The notable networkers award goes to James Wilkinson from Suddenstrike and Simon Raeburn from Simon Raeburn Photography in our first joint award.
The Carl Telfer Cup
The Carl Telfer cup was won by Ian Griffith of Alvis Printing.
10 minute speaker:
Alan Salter from AMS Wills & Trusts
Alan talked about prevention rather than cure and told the following story!
A mature couple Bill & Jill aged 65 and 67. Both worked hard all of their lives – Bill is now retired, Mary still works part time as a bank cashier. They have 2 adult sons, David and Peter, who are both married and there are four grandchildren. They have a lovely semidetached home worth £200k which is mortgage free and £55k savings. Believing that they were doing the right thing, they put Basic Wills in place leaving everything to the surviving spouse on first death.
They then believed that their sons, David and Peter would inherit the estate when they had both passed away. One day Bill and Jill were involved in a serious car accident whilst going to meet some friends for lunch and Bill died. Jill was paralysed and also suffered a serious head injury. As a result of her injuries, Jill was confined to a wheel chair and had to go into a care home.
Because Jill didn’t have Lasting Power of Attorney her sons had to apply to the Court of Protection to handle her affairs. This took 9 months and cost a considerable amount of money, during which time they couldn’t manage their own mothers affairs for her. This emphasises how vital it is that we all have Powers of Attorney in place should the worst happen.
10 years later Jill died. The cost of Jill’s care far exceeded the income that Jill received and over time her estate dwindled. Because Bill and Jill only had Basic Wills, it meant that Bill’s share of the estate had passed entirely to Jill when he died. When Jill died, only £14,250 was left after paying for her care and her funeral still needed to be paid for. Both sons received just £5,125 each out of an estate which had originally been worth £255,000
ALL OF THIS COULD HAVE BEEN AVOIDED HAD THEY PUT THE CORRECT ARRANGEMENTS IN PLACE. To see a couple of extra stories from Alan take a look at our blog posts from him outlining several other scenarios!