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Full delegate pack and speaker presentations
CONFERENCE Advising Vulnerable Adults in a Digital Age ON Thursday 5 December 2013, 9.00am – 12.55pm AT Park Plaza Hotel London Victoria, 239-251 Vauxhall Bridge Road, London SW1V 1LJ, United Kingdom SPONSORS Advising Vulnerable Adults in a Digital Age – 5 December 2013 ________________________________________________________________________________ These Notes are intended to do no more than refresh the memories of those attending the conference of the salient points made. Whilst every care has been taken in preparing the Notes to ensure their accuracy, they cannot be exhaustive and are no substitute for detailed examination of the relevant statutes, cases and other materials when advising clients on particular matters. No responsibility can be accepted by the Society of Trust and Estate Practitioners or the speakers for any loss occasioned to any person acting or refraining from action in reliance on anything contained in these Notes. No part of the Notes may be reproduced in any form without the prior permission of the speakers. © STEP Conferences 2013 SPONSORED BY Advising Vulnerable Adults in a Digital Age – 5 December 2013 ______________________________________________________________________________ Notes for delegates claiming points under CPD/CPE schemes Attendance at today’s conference will assist delegates in meeting their structured training commitments as follows: Society of Trust and Estate Practitioners The event qualifies for 3.5 hours towards meeting STEP members’ structured training commitment under the Society’s own Continuing Professional Development Scheme. The Solicitors Regulation Authority (formerly the Law Society) The event is accredited with 3.5 hours under the Solicitors Regulation Authority continuing professional development scheme. Please note, however, that to claim the hours, solicitors must sign the attendance register on the conference registration desk at the end of the conference (in order to confirm their attendance for the whole of the event under the Solicitor Regulation Authorities guidelines). Please quote your roll number, as well as your name and firm. The reference allocated by the Solicitors Regulation Authority to courses run by STEP, which must be quoted on your claim form, is AKZ/STCL. NB In all cases, points/credits are subject to the appropriate claim being made SPONSORED BY Advising Vulnerable Adults in a Digital Age – 5 December 2013 ______________________________________________________________________________ PROGRAMME 8.15am Guest Arrival, Registration and Tea or Coffee 9.00am Chairman’s Welcome Address Julia Abrey TEP, Head of Elder Law, Withers LLP 9.05am Introduction: The Issues Surrounding Digital Assets and Fiduciaries James Ward TEP, Partner – Private Client, Lee Bolton Monier-Williams Solicitors 9.25am Professional Conduct Issues Where Digital Assets are Concerned Stephen Mason, Barrister Jennie Pratt TEP, Partner – Lifetime Planning, Ashton KCJ 9.55am Your Digital Legacy – How to Plan and What Happens When You Lose Mental Capacity Paul Golding, Managing Director and Co-founder, Cirrus Legacy 10.10am Questions & Answers 10.25am Break 10.55am Bank and Building Societies’ Provisions to Help Digital Customers Experiencing Mental Capacity Issues James O’Sullivan, Policy Advisor, Building Societies Association 11.15am Future Banking Technology for Older People Professor Andrew Monk, Emeritus Professor of Psychology, University of York 11.45am Panel Session: Digital Experiences • Julia Abrey TEP, Head of Elder Law, Withers LLP • Seow Chee Goh TEP, Executive Director – Wealth Advisory Group, J.P. Morgan Private Bank Singapore • Kit Collingwood-Richardson, Head of Digital, Office of the Public Guardian 12.30pm Questions & Answers 12.45pm Chairman’s Welcome Address Julia Abrey TEP, Head of Elder Law, Withers LLP 12.55pm Conference Close SPONSORED BY Advising Vulnerable Adults in a Digital Age – 5 December 2013 ______________________________________________________________________________ DELEGATE LIST Miranda Allardice 5 Stone Buildings Mary Ambrose Practical Law Company Meg Andrews Hartley & Worstenholme David Barnes DLB Consultancy Jessica Beddows Harrison Clark Rickerbys Limited Rita Bhargava Russell-Cooke LLP Caroline Bielanska Caroline Bielanska Consultancy Benjamin Blair Office of Official Solicitor Louis Browne Taylor Browne Phillipa Bruce-Kerr Harrison Clark Rickerbys Emma Carey Calvert Smith & Sutcliffe Robert Chalmers Ashton KCJ Caroline Coats Caroline Coats & CO Clare Colacicchi Hewitsons LLP Veronica Cowdrey Henmans Freeth LLP Roger Crouch FMW LAW LTD Carol Cummins Clarke Willmott Mildred Curr Curr Vivier Inc Gabrielle Dell Meadows Ryan LLP Elizabeth Eyre Barlow Robbins LLP Susan Jane Fielding Jackson McDonald Charlotte Forder Anthos London Jocelyn Fox Taylor Vinters SPONSORED BY DELEGATE LIST CONTINUED Mihiri Gajraj Lamport Bassitt Patrick Green Taylor Walton LLP Tom Hall Hyphen Law Fiona Heald Caroline Coats & Co Jacqui Hruby Farrer & Co Janet Ilett Official Solicitor's Office Helen Ingleson Towry Sue Ioannou A.R.T. Wills Annabel Kay Higgs & Sons Amanda King-Jones Thomas Eggar LLP Gillian Linford Linford Law Ian Macdonald Wright Johnston & Mackenzie LLP Hélène Marquis CIBC Suzanne Marriott Charles Russell LLP Joanne Mason Jennifer Margrave Solicitors LLP Andrew McErlean Cartlidge Morland Holly Mieville-Hawkins Withy King Judith Morris Bircham Dyson Bell Alison Morris Wilsons Solicitors LLP Joanna Muirhead Lawrence Graham LLP Suzanne Mynors Hubbard Pegman & Whitney LLP Jessica Negyal Boodle Hatfield LLP Susanna Nichols QualitySolicitors Burroughs Day Philip Ostle Brooks Macdonald Margaret O'Sullivan O'Sullivan Estate Lawyers Sarah Palmer Parfitt Cresswell SPONSORED BY DELEGATE LIST CONTINUED Barbara Rich 5 Stone Buildings John Riddett BlocksLegal LLP Leigh Sagar New Square Chambers David Screen RG2 Willwriters Miriam Spero Stafford Young Jones Ann Stanyer Wedlake Bell LLP Anneke Vrenegoor Vrenegoor Estate Planning Hannah Wailoo Piper Smith Watton LLP Patricia Wass Foot Anstey LLP Iain Weir FMW LAW LTD Elisabeth Whybrow QualitySolicitors Silks Heledd Wyn Pardoes Barbara Rich 5 Stone Buildings SPONSOR LIST Gordon Bennie Enhance Group William Byrne Jersey Finance Limited Hannah Carolan Jersey Finance Limited Jean-Paul Cumberbatch Invest Barbados Vimal Damry Premier Financial Services Limited Françoise Hendy Invest Barbados Juliette Holder Invest Barbados Bakul Kothari Premier Financial Services Limited Oliver Mourant Enhance Group James Painter Enhance Group Lee Quemard Enhance Group SPONSORED BY STAFF LIST Wendy Murphy Society of Trust and Estate Practitioners (STEP) Kerri Roffey Society of Trust and Estate Practitioners (STEP) Sean Smith Society of Trust and Estate Practitioners (STEP) Emma Yeats Society of Trust and Estate Practitioners (STEP) SPONSORED BY Advising Vulnerable Adults in a Digital Age – 5 December 2013 _____________________________________________________________________________ James Ward TEP, Partner – Private Client, Lee Bolton Monier-Williams Solicitors James Ward is a Private Client solicitor based in London who specialises in a wide range of Private Client and Elder Law matters. He has particular focus on advising clients on matters relating to mental capacity law, both in England and Wales and abroad. This includes making applications to the Office of Public Guardian, drafting Lasting Powers of Attorney and advising on the validity of foreign powers of attorney. He also deals extensively with matters advising trusts and high net worth individuals on tax affairs and estate planning; advising executors on the administration of estates; acting for trustees in the creation and the administration of trusts; advising on property trust issues; drafting and variation of wills and advising on offshore and domicile complications. James is a full member of STEP. He is also a current member of the STEP Mental Capacity Special Interest Group Steering Committee which advises professionals and the government on various capacity issues. Within this committee he is part of the Digital Assets focus team. He also regularly gives lectures to professionals on the broad range of areas he specialises in. He is currently a Partner in the Private Client department of the Westminster based law firm, Lee Bolton Monier-Williams. SPONSORED BY Introduction: The Issues surrounding Digital Assets and Fiduciaries James Ward TEP Private Client Partner Lee Bolton Monier‐Williams Solicitors [email protected] What are digital assets? • Effectively they are any asset that is accessed or held online. • There is vast array of online providers holding items that could be classed as an asset such as – – – – – – – – – – – Financial Institutions Share Trading Social Media Email accounts Content Holders / Multimedia downloads Government Departments Online Auction sites Personal Medical records Blogs Domain names and websites Cloud Storage Issues for Fiduciaries • Actual location of assets leading to multi‐jurisdictional issues – Different privacy laws, Data Protection Act, Patriot Act etc • Uncertain status of ownership and control – Licence v actual ownership • • Lack of awareness by donors/beneficiaries of the issues Lack of guidance by the law, so down to companies to decide their policy – Some companies more pro‐active than others but still only on their terms. • End User licence agreements – Some will expressly exclude personal legal representatives and attorneys or have non‐transferability clauses • • • Legal, practical and security difficulties with sharing passwords/logins Fiduciaries are under a legal duty to manage/locate all assets of a Donor or a Testator Valuation issues – may be necessary to include values for means tests and/or tax purposes 5th December STEP Half‐Day Confernece ‐ Mental Capacity Examples of Issues • Small businesses – Key person dies, has great effect on company's future that can be made worse if unable to access key emails/documents/client list etc. • Teenage Suicide – Email account unable to be accessed following death and ended up being deleted. Email firm were sympathetic but followed End User Agreement and local privacy laws. Family could not afford to challenge in Court. • US Marine case 2005 – End User agreement issues preventing transferability. Access only granted following Court Order. • Undiscovered bank account leads to care home fees shortfall – Bank account was online and no paperwork existed so went undetected. 5th December STEP Half‐Day Confernece ‐ Mental Capacity Immediate Solutions • Making sure that relevant Powers of Attorney and a Will is in place so that there is a named fiduciary • Practitioners need to make clients aware of these issues and advise them to at the least make a note of digital assets they own. – Asset list made when drafting Will and/or Lasting Power of Attorney and then stored with these documents. Also make sure they are updated regularly. • Review End User agreements and where possible appoint a third party to have authority to access the account – i.e. Google's 'inactive account manager'. • Use a Digital Asset storage firm • Hardcopy back up for ease of reference – i.e. Print off key statements/emails • Potential use of Lifetime Trusts to hold the asset 5th December STEP Half‐Day Confernece ‐ Mental Capacity Long Term Solutions • Limited legislation has been passed in respect of Digital Assets. • Many US States are waiting for a report by the Uniform Law Commission before legislating, but this may take some time. • Death easier to manage than loss of capacity when legislating • It is not enough to rely on individual companies to make their decision as to how to handle loss of capacity and death as this leads to inconsistency. • Need for a global protocol that permits fiduciaries to access online accounts of users in appropriate circumstances. • However this needs to be achieved at the same time as providing the Online Provider with the correct legal authority to allow the access and suitable immunity when complying with the protocol. • And all of this needs to be achieved while preserving the security and privacy of all the users. 5th December STEP Half‐Day Confernece ‐ Mental Capacity STEP and Digital Assets • STEP has set up an international Digital Asset Working Group within the Mental Capacity Special Interest Group to consider these issues and try to push for action by discussing the matter with both companies and governments across the world. • If you have any "horror" stories of fiduciaries who have experienced real issues with online providers please send them to us at [email protected]. 5th December STEP Half‐Day Confernece ‐ Mental Capacity Advising Vulnerable Adults in a Digital Age – 5 December 2013 _____________________________________________________________________________ Stephen Mason, Barrister Stephen Mason is a barrister, an Associate Research Fellow at the Institute of Advanced Legal Studies in London, and a member of the IT Panel of the General Council of the Bar of England and Wales. He is the author of Electronic Signatures in Law (3rd edn, Cambridge University Press, 2012) and Electronic Banking: Protecting Your Rights (PP Publishing, 2012); and the general editor of Electronic Evidence (3rd edn, LexisNexis Butterworths, 2012) covering 11 common law jurisdictions and now including the European Union, and International Electronic Evidence (British Institute of International and Comparative Law, 2008) covering 36 civil law jurisdictions. He founded the international journal Digital Evidence and Electronic Signature Law Review, which has become an international focal point for researchers in the area. He has conducted training in electronic evidence for judges and lawyers at the request of universities, legal professional organisations, Ministries of Justice and the Academy of European Law in Australia, India, throughout the European Union, Thailand, Turkey and the United Arab Emirates. Stephen has acted as the external marker in postgraduate degrees dealing with electronic evidence: LLM at the University of Oslo (2006), PhD at Exeter University (2013); PhD at Queensland University of Technology, Brisbane, Australia (pending). SPONSORED BY Advising Vulnerable Adults in a Digital Age – 5 December 2013 _____________________________________________________________________________ Jennie Pratt TEP, Partner – Lifetime Planning, Ashton KCJ Jennie Pratt has extensive wealth management and tax planning experience, having worked for over 20 years in Cambridge. She advises a wide range of clients on Wills, Trusts and the administration of complex and high value estates, including complex and overseas assets. She is well known for her expertise in the taxation of Trusts. Jennie is the Deputy Chairman of the England and Wales Committee of the Society of Trust and Estate Practitioners (STEP), on which she represents the eastern region, and is a past Chairman of the Cambridge Branch of STEP. She is also a member of the Association of Taxation Technicians and is a regular presenter on local law society training courses. SPONSORED BY Advising Vulnerable Adults in a Digital Age – 5 December 2013 _____________________________________________________________________________ Paul Golding, Managing Director and Co-founder, Cirrus Legacy Paul Golding is the Managing Director of Cirrus Legacy a UK based company that deals with an individual's digital assets after death. Paul is a married 51 year old with three children based in the heart of Sussex. His background is a technical one heading up infrastructure teams over the past 20 years at blue ship companies until founding Cirrus Legacy in 2011. His interest in what happens to our digital worth after death started after the death of a close family member and the issues around knowing what accounts existed, where they were and how could they be accessed. Utilizing the knowledge gained from his work Paul setup the concept of Cirrus Legacy designing the design, processes and security. Paul is an avid rugby enthusiast as well a knowledgeable chef and a technical evangelist. SPONSORED BY Digital Legacy & Mental Capacity STEP Conference December 5th 2013 www.cirruslegacy.com Introduction This presentation is a short journey from the early days of the internet to the current day showing how it affects all of our lives and how we can prepare our digital legacy in case of loss of mental capacity. www.cirruslegacy.com In the beginning The internet is a relatively new concept, twenty years ago the early pioneers connected via modems to access limited and primitive looking resources. www.cirruslegacy.com The present Today there are over 25 million households in the UK with internet access accessing over 500,000,000 websites www.cirruslegacy.com The present The rate of change is phenomenal and it has profound effects on our lives. Our information was in one place – the postman delivered and you filed into a filing cabinet or loft. www.cirruslegacy.com The present Today your data can be anywhere in a myriad of countries with a myriad of providers. The key questions are: Who knows what you have? Where it is? How can it be accessed? You only know what you know. www.cirruslegacy.com Embracing the internet Today we embrace the internet, we use it for: • • • • • • • • • News Business Travel Research Entertainment Purchasing Social Banking Selling Each account needs a username & password www.cirruslegacy.com Embracing the internet 85 percent of net surfers shop online. The average UK Consumer now has an average of 26 separate online logins, that need to be kept updated and maintained. www.cirruslegacy.com What is digital legacy? A digital legacy comprises of many items it is accumulation of virtual assets of a monetary, intellectual, personal or family worth that can be transferred or otherwise dealt with upon death. www.cirruslegacy.com What is digital legacy? These assets can be placed into four main categories: • Financial PayPal, Day trading, Online banking, Gaming sites, Gambling, lottery sites • Intellectual Developed code, Web sites, Blog content, Google Docs, DropBox Digital Art • Sentimental Flickr, Picassa, Instagram, YouTube, Photobucket, Diary sites • Social Twitter, Facebook, MySpace, Google Plus, LinkedIn www.cirruslegacy.com What is digital legacy? Interesting terms and conditions • 888 Poker – Dormant accounts charged at 10% per month. • Ladbrokes – Charge 5% per month on inactive accounts • Paypal – Close accounts and transfer balance to Luxembourg Caisse de Consignation • Dropbox – May choose to delete all files if your Free Account is inactive for 90 days • Flickr ‐ Reserves the right to delete inactive accounts after 90 days • Twitter ‐ Accounts may be permanently removed due to prolonged inactivity www.cirruslegacy.com Secure and protect As medical science improves and living standards increase we are living longer and with that comes the risk of dementia and and the loss of mental capacity leaving loved ones with the task of maintaining and sorting out affairs. As we know it can strike at anyone and at any time. www.cirruslegacy.com Secure and protect Online services have begun to appear to meet market needs with simple processes allowing power of attorney to guide and maintain digital assets and accounts. www.cirruslegacy.com Client Benefits • • • • • • A secure place to keep track of all online accounts Anytime, anywhere, any device access to account information Single point to manage online account information Upload important files to keep them safe and secure Decide what happens to each one when they are deceased or incapacitated Government standard security Most importantly ‐ Peace of mind www.cirruslegacy.com Conclusion The internet is not going to go away, our lives over the years will become more and more digitally based as we truly start to see a paperless age. We need to consider now how we address this. www.cirruslegacy.com Questions To make an appointment for a site visit or to request more information Call 0844 800 8184 or drop an email to [email protected] www.cirruslegacy.com Advising Vulnerable Adults in a Digital Age – 5 December 2013 _____________________________________________________________________________ James O’Sullivan, Policy Advisor, Building Societies Association James O’Sullivan joined the BSA in January 2008 as a Policy Advisor with a portfolio covering financial crime, security, data security, complaints management, business contingency management and protection of the vulnerable. He is Chairman of the BSA’s Financial Crime, Business Continuity and Information Governance panels and a member of the National Fraud Authority’s Horizon Scanning Working Group. He led the working group that created “A framework for authorising people wanting to operate a bank account for someone else – Guidance for banks and building societies” and also represented the financial services industry on the steering groups for the Brunel University project on Elder Abuse, Action for Advocacy’s Advocacy & Financial Abuse project. Prior to joining the BSA, James spent 20 years at Nationwide Building Society initially in retail management and then in senior roles in project management, strategy development and change delivery. James is married with one sports-mad son. SPONSORED BY Building societies’ and banks’ provisions to help digital customers experiencing mental capacity issues James O’Sullivan, Building Societies Association 5 December 2013 Agenda • Building societies’ & banks’ responsibilities towards account holders suffering mental health problems. • How “digital” is retail financial services? • Supporting fluctuating mental capacity • Supporting customers without mental capacity & their carers • Tackling abuse • Looking ahead – the fully digital customer Scope • Personal banking services • Deposit-based savings • Mortgages • Unsecured lending Out of scope – comment on individual firms Our responsibilities What is a building society? • Support your customers in keeping control of their financial affairs • Protect the customer, their assets & their privacy • Comply with relevant legislation & regulation • Support their carers & their families • Manage every account holder’s issues individually • Don’t be substitute medical, social work or legal professionals Overview building Our of responsibilities societies Support Protection Overview building Our of responsibilities societies Risk – Too protection-focussed • Loss of financial capability • Loss of quality of life • Less secure transactions substituted for formal banking Overview building Our of responsibilities societies Risk – Too support-focussed • Increased vulnerability to crime • Loss of assets • Distress & mental trauma A digital age? What is a building society? Source “Consumer research with “older old” consumers”, Payments Council, 2012. Supporting fluctuating capacity Legal & regulatory framework is comparatively loose: • Mental Capacity Act 2005 • OFT - “Mental health – guidance for creditors” • Lending Standards board – “Mental health & debt” 2011 For each transaction the key test is: “Does the customer understand the nature of the transaction and the advice given to them at the time of the decision to transact.” • No firm guidance as to what a building society / bank should do when they feel that this test is not passed. Supporting fluctuating capacity Practical help to make finances more manageable: Chip & Signature Big Print Signature templates A friendly face Customers with no mental capacity Improving support for attorneys, deputies & other appointed 3rd party representatives • Improving basic understanding • Getting the frontline to use the help available • Getting firms to think of attorneys as customers Digital access to accounts for attorneys etc • Improving from a low base • Security issues with 1st generation online banking IT. • Product pricing issues still present. Carers who are not appointed representatives • An increasing minority • FS firms having to make value judgements about the account holder’s best interests Preventing abuse Individuals with mental capacity issues are an easy target for crime and financial abuse: • Financial abuse cases have rocketed since the credit crunch • Organised crime is now involved • BUT – 75% of abuse is committed by someone that the victim already knows (Alzheimer’s Society survey 2011) How our sector helps prevent financial abuse: • Alerting customers to scams • Looking out for signs that abuse is taking place • Reporting abuse to local authority vulnerable adults teams – to support the victim. • Reporting crime to the police – to take out the criminal Looking forward What will change in the digital age? CHANGING UNCHANGED Significantly greater use of digital channels for financial services The impact of loss of mental capacity on an affected individual Customers more technology-literate but not necessarily more financially literate The need for care and support for those individuals Multiple digital channel usage – PC, Tablet, Mobile Phone etc. Targeting of mentally incapacitated individuals for abuse Better cyber security – but more threats Unwillingness to plan for future loss of mental capacity Many more services available via digital channels – increased competition between providers Knowledge & confidence gap around POA etc. between and financially confident and the less well off Transactions are faster – less easy to correct mistakes Building societies / banks responsibilities to these customers and their carers Much less direct contact between digital consumers and their banking provider Looking forward The particular challenge of the digital age – the changing relationship with the customer • How do you know whether your customer is starting to suffer from loss of mental capacity when you rarely see them or speak with them. • Providing additional help & protection in digital form – or do you take that choice away? Others • Making it simple to prepare for loss of mental capacity • Supporting appointed 3rd party representatives with digital services • Helping families where there is no appointed 3rd party representative. Above all – keeping the balance Questions Advising Vulnerable Adults in a Digital Age – 5 December 2013 _____________________________________________________________________________ Professor Andrew Monk, Emeritus Professor of Psychology, University of York Andrew Monk is Founding Director of The Centre for Usable Home Technology (CUHTec), Emeritus Professor of Psychology at the University of York and Visiting Professor in Informatics at Culture Lab, Newcastle University. He is a psychologist who works with researchers in computer science and electronics to find ways of making technology better serve the needs of its users. Andrew was elected to ACM CHI Academy in 2005. He has over 200 peer reviewed publications and 20 books in the general areas of Human-Computer Interaction, Electronic Communication, and User Experience. His most recent work has been concerned with the problems eighty year olds have with payment systems. SPONSORED BY Future Banking Technology for Older People Andrew Monk Emeritus Professor of Psychology, University of York, UK Visiting Professor at Newcastle University, Department of Informatics [email protected] The Problem Many senior citizens in the UK get a poor deal from current banking facilities. Being able to pay for things is critical if you are to live independently in your own home. So Inclusive design, making sure that a product provides a good user experience for everyone (including older people), is important. The “New approaches to banking for the older old” project Funded by the Digital Economy Programme (Research Councils UK). Our user partners were Barclays and Age UK. Project aim: To make recommendations for new more inclusive banking products and to suggest new ways of supporting these products with technology. Plan for this talk 1. 2. 3. 4. Methods used Technology to replace cheques Technology for spontaneous delegation Initial results form a new project PayWise Financial biographies (ethnography) 12 eighty somethings 10 living independently in their own homes, 1 was in a warden assisted flat and 1 was a resident in a care home. Mixed socio-economic status. Asked to tell their life stories • warned that the interviewer would be interrupting to ask about finances • childhood memories (pocket money, parents’ finances) • any time of upheaval (leaving/moving home, career change, major purchase, retirement) • focus on biography allowed them to relate detailed and revealing stories Other interviews • a finance officer at Age UK • 2 care home managers • a vicar who worked with many of the elderly participants • two specialist welfare benefit advisors • the head of research in a large banking organisation • a financial anthropologist and co-founder of Zopa Systematic analysis Interviews all transcribed and anonymised. Data was summarised with open-ended codes. These initial codes were then grouped together into themes illustrated with selected quotes 4 related themes Control Materiality Locality Helping and being helped Theme 2: Control Meticulous records and checking “I write out me carers, me gas, me light, me phone and hair, feet - chiropodist, water, television, St Leonard’s Hospice which I support, church – how much I donate each week and then I give a bit extra at Christmas, that all goes down.” – Thora, 89, describing how she checks and plans her finances for the year No debts “These youngsters are more easily in debt to what we were. … They don’t seem to bother do they? I’d be worried to death if I owed any money, I would. … Spend and waste! They spend and spend.” – Dorothy, 86, reflecting on younger generations attitudes to finances Theme 4: Helping and being helped “The bills come in, I’ve got my cash, I give it to my carer and she goes and pays.” – Thora, 89, describing how she pays for most of her bills “I have it [her PIN] down somewhere, because they always say not to, I couldn’t remember it with never using it. But I wrote the numbers down and every so often, they’ll send me another card.” – Ruth, 88, describing the problems she has with PINs “If I want anything out of the wall, Nigel will get me 100 out if I need it.” – Barbara, 95, discussing how her Nephew withdraws money on her behalf “She wanted one of my colleagues to go and collect her card and go to the ATM and get money and he said no. We would take her cash and then she could write us a cheque, because then everybody would know what was what. Her response was, I’ll get the taxi driver to do it.” – Annie, financial advisor Co-design to make provocative prototypes Co-design workshops with a new set of eleven people aged between 80 and 87 meeting in groups of 2-5 people. Over a period of four months we met with each group in four successive workshops. Outcome - working provocative prototypes Provocative prototype 1: Electronic Cheques Pouch with chargertransmitter Anoto pen Cheque book printed on Anoto paper Pervasive computing. A pen is an everyday object. There is no need for a “computer” in the home. What we learned from the co-design of ways to replace cheques The 80somethings who worked with us saw great value in cheques for certain kinds of payment: • they valued the paper record provided by the cheque book stub • they also valued the flexibility of being able to simply write the name of the payee on the cheque rather than getting a bank account number from the payee. • most of all they valued the experience of writing a cheque, particularly for gifts and donations • you can do electronic transactions without a PC, laptop or smart phone The Guardian Angel Card (delegation of small financial tasks to a third party) A provocative prototype: arising from the Financial Biographies “She wanted one of my colleagues to go and collect her card and go to the ATM and get money and he said no. We would take her cash and then she could write us a cheque, because then everybody would know what was what. Her response was, I’ll get the taxi driver to do it.” – Annie, financial advisor Andrew will be helping you... Andrew has been authorised to get cash for you using his Guardian Angel Card How much would you like him to withdraw? £10.00 £20.00 £50.00 £100.00 Andrew can withdraw up to £20 His Guardian Angel Card will expire after a certain amount of time. We normally recommend this is 2 hours. Yes 2 hours is fine Extend life of card to 4 hours Extend life of card to 1 week Designing the User eXperience UX Analysis 1. Rich Picture (stakeholders, concerns, flow) Recipient Concerns security of funds convenience relationship with H understanding 1 Concerns security from false accusation convenience relationship with R understanding Helper 7 8 5 6 2 4 Account provider 3 Concerns profit reputation liability for fraud Service provider Concerns transaction time charges liability for fraud Concerns Matrix for Guardian Angel card Delegation properties Concerns (as experiences) Conclusions from Guardian Angel design 1. The payment method must: • make the helper feel valued and trusted • be very easy to use • be able to be used spontaneously (not involve solicitors!) • be secure 2. User experience can be systematically designed into a product using a Rich Picture and a Concerns Matrix 3. There are other tasks where there is a need for third party delegation: • shopping (limit to location, time, maximum value) • advice (limit visibility of account, e.g., to utility bills) Conclusions from co-design in general 1. Co-design with eighty somethings was fun and productive 2. None of our provocative prototypes fully satisfied our participants (or us!) but they do illustrate needs 3. The detailed things they said put us in an excellent position to invent new payment systems that: • are consistent with their practical concerns and practices • provide them with a positive experience when making payments A new project - PayWise A TV set top box designed for low income households to do their banking on Partners: London Rebuilding Society, Consult Hyperion and the Payments Council Research by: Mutable Objects Methods Interviews and focus groups (38 people under UK Absolute Low Income Measure of £251 p.w.) Included: older people whose income was primarily the state pension, unemployed young people living on their own or with their families, individuals with disabilities or impairments that mean they require the support of others when dealing with their finances, carers of people with disabilities. 5 were not computer literate. Prompt cards (12) • Something you could not live without • Something you would get rid of • Something you would change for the better • Something you should be better at doing Theme 2: Managing and negotiating priorities “Yes I’ve got to keep aware of a few big dates; one’s around about the 10th or 11th of every month, a bit of money comes out. I only have to be mindful of that because if your accounts are empty then you run the risk of going into arrears, and then you get charged £6 a day.” – P9 “I know that there are certain bills that you can get away with paying for late. You can’t be cut off water and unless you refuse to pay the bill outright, they will be flexible if you’re struggling a little bit for a week or so. So I know if something else comes up, I can push water back a little bit.” – P24 Conclusions from PayWise design Current electronic banking facilities appear to be designed primarily for the convenience of the banks but by looking at them through the eyes of people in low income households we can envisage new features that would be useful for everyone • planning and watching • delaying and prioritising payments • hiding details Thank you! Visit http://www.eightysomething.org for updates on project progress and to download papers or email [email protected] Provocative prototype: a secure PIN reminder Biometrics were very acceptable to our eighty somethings “I would say two things used together, the photograph of the eye... and the fingerprint, or the palm print. In other words two things. Therefore in order to commit fraud you have got to have two things right.” Rita, 82, talking about how the device could include several types of biometric The prototype used: • gait (reveal only some digits) • a physical password • a finger print Advising Vulnerable Adults in a Digital Age – 5 December 2013 _____________________________________________________________________________ Julia Abrey TEP, Head of Elder Law, Withers LLP Julia Abrey is a partner of Withers LLP and a leading practitioner in Court of Protection work in the Legal 500 2013 and Chambers 2013. Her practice focuses on Probate, Succession and Post-Death Planning, Trust Management and Contentious Probate issues. She has a particular interest in Elder Law and the Court of Protection. Julia is the STEP Elder Client Law Professional of the Year 2009/10, past Chair of Solicitors for the Elderly and a member of ACTAPS, the US National Academy of Elder Law Attorneys and the All Party Parliamentary Group on Dementia. She is a regular writer and lecturer on elder law matters. SPONSORED BY Advising Vulnerable Adults in a Digital Age – 5 December 2013 _____________________________________________________________________________ Seow Chee Goh TEP, Executive Director – Wealth Advisory Group, J.P. Morgan Private Bank Seow Chee Goh is an Executive Director of the Wealth Advisory Group at J.P. Morgan's Private Bank based in Singapore, which is dedicated to serving the international tax, trust, succession and strategic planning needs of our clients. She is responsible for the firm's Wealth Advisory practice and will be advancing the firm's efforts to develop customised and leading edge wealth planning products and solutions for clients. SPONSORED BY Advising Vulnerable Adults in a Digital Age – 5 December 2013 _____________________________________________________________________________ Kit Collingwood-Richardson, Head of Digital, Office of the Public Guardian (OPG) Kit Collingwood-Richardson is Head of Digital at the Office of the Public Guardian (OPG). The OPG’s core functions are to: • Register Lasting Powers of Attorney (LPAs) and Enduring Powers of Attorney (EPAs) • Supervise deputies appointed by the Court of Protection • Investigate complaints, or allegations of abuse, made against deputies or attorneys • Maintain the registers of deputies, LPAs and EPAs, and respond to requests to search the registers Kit has worked at the Ministry of Justice (MoJ) since 2009. She has worked in several roles in her time in the department, from offender management to taking a bill through Parliament. Kit tool up her current post as the digital lead for the OPG, an executive agency of the MoJ, in November 2012, since when she has been leading on driving OPG’s digital ambitions forward. In July 2013 the OPG launched the first of its planned digital services: a tool which allows applicants to create, validate and pay for a Lasting Power of Attorney application online. The tool is one of the Government Digital Service’s (GDS) 25 exemplar projects, and the OPG has recently been granted exemplar status as a whole agency. OPG’s digital team is now focusing on building more services, for deputies and to enable digital searches of the OPG’s registers. SPONSORED BY The Mental Capacity group focuses on the increasing importance and relevance of issues concerning a lack of capacity in clients of all ages to the work of trust and estate practitioners. Visit the Mental Capacity Special Interest Group web-pages: www.step.org/mental-capacity www.step.org/sigs Join the LinkedIn group: Mental Capacity Special Interest Group www.linkedin.com/groups/Mental-Capacity-Special-Interest-Group4039247 Become a Member: Membership of STEP’s Special Interest Groups is open to STEP members and non-members alike and there is currently no fee to join. If you wish to become a member of the Mental Capacity group and receive updates about their news, events and activities, please visit www.step.org/SIGs. Alternatively you can complete a joining form at today’s registration desk. Mental Capacity Special Interest Group Society of Trust and Estate Practitioners (STEP) Artillery House (South) 11-19 Artillery Row London, SW1P 1RT United Kingdom Tel: +44 (0)20 7340 0537 Fax: +44 (0)20 7340 0501 Email: [email protected] www.step.org/qp Join STEP via the Qualified Practitioner Route to Membership 2 ANNUAL SUBMISSION DATES An entry route to STEP Membership for trust and estate practitioners who have established themselves in their field The QP Route to Membership Entitles You To: • Become a Full Member of STEP • Use the designation TEP to showcase your specialist expertise in the field of trusts and estates • Increase your profile in the industry and network with peers • Benefit from access to knowledge that will enable you to identify and manage risk inherent in private client work more effectively • Demonstrate a dedication and commitment to the field of trusts and estates • Provide your clients with assurance that you are a highly qualified trust and estate practitioner and trusted advisor Study at your own pace to become a Full Member of STEP by completing three papers on one of the topics published by STEP. Entry Requirements: • A recognised professional/vocational degree and five years’ trust and estate post-qualification experience OR • Ten years’ trust and estate work experience Visit www.step.org/qp to view the paper topics and download an application form For more information about STEP call +44 (0)20 7340 0500 or email [email protected] WITH THANKS TO OUR SPONSORS Enhance is an independent investment consultancy business. The services provided through the Enhance group of companies are portfolio monitoring, investment manager selection services, and investment consultancy as well as treasury and cash management solutions. Enhance also operate a Member Service for STEP, the Trustee Managed Portfolio Indices. Enhance Group services are typically provided to fiduciary structures, high net worth individuals and charities. Enhance endeavour to ensure clients of the group experience integrity and professionalism across all business lines and in engaging with their chosen investment providers, experience positive, effective investment solutions. The Group’s status as an independent company ensures a genuinely impartial approach in all aspects of client work. For more information on: Please contact: James Painter Managing Director Tel: +44 1534 761510 Email: [email protected] This document is for information purposes only and is not to be construed as a solicitation or an offer for financial services. The information contained herein is based on materials and sources that we believe to be reliable, however, EGL make no representation or warranty, either express or implied, in relation to the accuracy, completeness or reliability of the information contained herein. All opinions and estimates included in this document are subject to change without notice and EGL are under no obligation to update the information contained herein. None of EGL employees shall have any liability whatsoever for any indirect or consequential loss or damage arising from any use of this document. This document is issued by Enhance Group Limited (EGL) Registered Office: 1st Floor, Charles Bisson House, 30-32 New Street, St Helier, Jersey JE2 3TE www.investbarbados.org THE BARBADOS DOMICILE Barbados’ international business and financial centre is unique, offering investors the combination of a secure and reputable jurisdiction, cost effective treaty-based tax planning opportunities and a high quality of life. Located in a similar time zone to the eastern US, it provides a secure environment for international business companies, banking, insurance, trust and wealth management. 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