Each week, Nexus members gather early in the morning, on either a Tuesday, Thursday or Friday to meet one-to-one, and share knowledge, contacts, and tips. During these meetings, we allocate 10-minutes to a member to talk to the group about their industry, and also provide members with brilliant business-related advice, from a variety of different trades.
For our Speaker Series slot last week, Lorna Boreham, of Hill & Abbott Solicitors, stepped up to the podium to talk to the group about Wills, estates and power of attorney. As a private client solicitor, Lorna often deals with Wills and was eager to draw the distinction between those, and power of attorney. A Will is a document, which is used to execute your wishes after death, she says, and usually involves setting out the exectors, the assets and the beneficiaries – “once you’ve got those, you’ve got a will.”
However, power of attorney is to be used whilst you are still alive. “Choose this person wisely,” Boreham warns, as they will have the power to do anything you could do, such as draw money out of the bank, or sell property in your name. That’s the financials side. Lorna also draws the disctinction between financial POA, and health and welfare POA – this is different in that this person has the power to make decisions on your health when you are incapable of doing so yourself.
She also provided tips to the group such as, the need to draft a Will under foreign jurisdiction if you have property in another country. Or, to redraft your Will ‘In Comtemplation of Marriage’ as getting married actually revokes any previously drafted Wills. Lorna also stressed to the group the importance of making a Will, as often when a person doesn’t have one, a lot of their assets will simply go to the Crown. You can see Lorna’s presentation in full below.
Another contributor to the Speaker Series was John Miller of Enjay Debt Management gave a presentation on claims management. The aim of the talk was to make members aware of current claims market, and of Enjay’s approach to handling claims – the company, John says, treats people as individuals, not just numbers. He hopes that, after the discussion, members will have an idea of the information required to allow a company, such as Enjay, to do a review and what could constitute a potential claim and why.
Overall, the Speaker Series last week was extremely beneficial to all members, giving them advice on these important issues that they would only receive if they sought out the information from a solicitor themselves. This just demonstrates one of the many benefits of a Nexus Networking membership, which is comprised of people from such a diverse range of trades and industries.
You can view Lorna’s presentation in full here on our Youtube channel. If you like what you’ve read, why not come along to our next Speaker Series? Contact Paul Lomas on 07807 494530 or email paul.lomas@energycentric.co.uk to book your place.