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Glenys Laws Tax Care and Toy Boys

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A few startling thoughts on why you don't need a will and a few worrying questions about adequate forward planning.

Text of Glenys Laws Tax Care and Toy Boys

Meeting 24 April 2013 Tax, Care and Toy Boys

This is the sort of speaker we need every week! Not only did Glenys offer to provide a synopsis of her talk, she also sent a life-size picture which I have unfortunately had to reduce to fit on this page. While I am tempted to just give you the synopsis (which is on the next page), some might feel this was a bit of an advert for Collective Legal Solutions, so I will give a bit of our side of the evening as well. A rather small gathering, as many members had just arrived back from Belfast and decided not to be forced to compare the Dorset Arms with the Europa Hotel; i.e. there is less chance of getting blown up in the Dorset. Glenys came all the way from Worthing to talk to us, about tax, care and toy boys. Possibly Glenys was drawn so far afield by the chance to eat at said Dorset Arms. I will not comment on the food as this is apparently off limits for a lowly scribe, suffice to say that our speaker chose to forego the pabulum presented on this occasion - or les saucisses la pure with an afterthought of sauce jus doignon. Yum. After an introduction which cunningly avoided mentioning anything so sordid as valuable consideration for the services provided by Collective Legal Solutions, Glenys settled into an erudite presentation of the situations where her advice might be beneficial. It took a degree of practice - but mainly personality and conviction - to save this from turning into an evening with your friendly neighbourhood double-glazing salesman. But, without smoke, mirrors or even a script, this was a masterly run through of everything you need to know before you kick the container mentioned by last weeks speaker. An example? Ill try. Joint bank account? These days your bank m ay decide to freeze the account if you or your partner is declared doolally (military term for Glenyss loses capacity). You can plan ahead to avoid this by setting up a power of attorney for each other (not joint that puts you back to square 1). But why do the banks do it? In case the condition was deliberately brought on by the partner. Just a minute

A talk by Glenys Laws Collective Legal Solutions.

The toy boy reference? Well, Glenyss second paragraph touches on it delicately. To paraphrase: If you want your money to pass to your deserving children and not to the neer- do-well stock of some Johnny-come-lately who usurps your barely cold space in the family pile, ring the number at the end of the synopsis. There wasnt time to ask the question, How do I stop my money passing to my son now that he is a qualified solicitor and puts Post-it notes on things saying Mine when he visits? so a big thank you to Glenys will have to suffice.

Tax, Care and Toy Boys A talk by Glenys Laws, Collective Legal Solutions. Speaking about tax, care and toy boys to the East Grinstead Meridian Rotary Club on 24 th . April was made so much easier by the warm welcome I received on the day. There was surprise when I opened by stating that after many years in the legal industry I have come to the conclusion that there is no point having a will. I quickly followed up by saying that this is true unless measures have been taken to protect assets from the threat of Inheritance Tax, the reduction in the estate after being forced to fund Long Term Care, or from ones husband or wife meeting someone else after first death and their hard earned wealth passing to the new partner or new partners family. The group learnt that couples owning their home jointly, or having wills leaving everything to each other, could put their familys inheritance in jeopardy. Appropriate advice on the use of trusts within a will, or ones established during lifetime, will mitigate all, or at least a significant proportion, of their Inheritance Tax Liability. The need for individuals to plan for failing mental capacity, in the event of accident or illness, has become urgent as joint accounts can now be frozen by banks where one account holder loses capacity. The need for us all to plan for this eventuality has never been greater. The benefits of taking out a pre paid funeral plan are many, especially for the fees they will save in the future and the peace of mind it gives to your family. As ever, when I speak to an audience, I am pleased to say that the company will fund specialist advice to provide peace of mind. I stand by this view and invite any reader to call me personally on 01903 200982 where I will answer any concerns and will offer a free of charge consultation if necessary. Finally, thank you for allowing me to speak on such an important matter and for being such a delightful audience. Glenys Laws 01903 200982 07931 512 448

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