Tag: Finance

Safeguarding Legacies: CCRP hosts Estate Planning Forum for Seniors

Ms Lona Brown, retired Administrator General

KINGSTON, JAMAICA – Friday, July 18, 2025: The seniors’ advocacy organization, CCRP is continuing its mission to inform and educate Jamaica’s senior citizens through a series of meetings on various topics. The organization’s third online meeting on estate planning was held on Wednesday 16th July with retired Administrator General Lona Brown and attorney at law Alicia Hussey making a presentation on ‘Estate Planning and Trust Management’.

With a wealth of legal expertise in estate planning, Ms. Hussey delivered an engaging and informative presentation designed to help participants understand the legal tools available to safeguard their assets, minimize family conflict, and ensure their wishes are clearly and legally documented.

Ensuring Validity: The Fundamentals of Wills

Ms. Hussey outlined the essential elements of a valid Will, emphasizing that it must be in writing, signed by the testator (or someone acting under their direction in their presence), and witnessed by two individuals who are present at the same time. While Wills can be revised during the testator’s lifetime, they only take legal effect upon death. Failure to execute a Will properly can result in disputes or render the document invalid.

Testamentary Freedom and Its Legal Boundaries

While Jamaican law upholds an individual’s right to distribute their estate as they see fit, certain protections are afforded to dependents. Ms. Hussey explained that spouses, common-law partners, former spouses, children under 18 or enrolled full-time in university under age 23, and dependent parents may be legally entitled to reasonable provision. “Individuals should consider these legal obligations when creating their Wills to avoid potential disruptions to their estates after death,” Ms. Hussey advised.

Navigating the Basics of Estate Planning

The discussion addressed several practical considerations, including the importance of including a residuary clause to ensure no assets are inadvertently excluded from the Will. It was clarified that some assets, such as life insurance policies or bank accounts with named beneficiaries, do not need to be included in a Will. The legal concept of joint tenancy was also explained, where property held jointly passes directly to the surviving owner, regardless of the Will’s content. Ms. Hussey further distinguished between outright gifts, trusts, and revocable living trusts, emphasizing the flexibility and control these instruments offer in different circumstances.

Trusts, Companies, and Legacy Protection

Retired Administrator General Lona Brown highlighted the role of trusts in protecting and managing assets for intellectually challenged or dependent family members. Noting that the establishment of a company can also be a strategic tool in estate planning, seniors are encouraged to seek legal advice on the possibility of setting up a venture to continue legacy protection. The discussion also explored the legal implications of common disasters, transfer taxes upon death, and the risks of improper witnessing, such as having a beneficiary serve as a witness to a Will.

Moving Forward with Confidence

The session concluded with strong encouragement for seniors to consult qualified legal professionals when drafting or updating their estate plans, especially when managing complex family dynamics or significant assets. 

“We are grateful to Ms. Brown and Ms. Hussey of Hussey Legal who gave expert guidance on such matters that impact their lives most deeply,” said Jean Lowrie-Chin, Founder and Executive Chair of CCRP. “This session on estate planning will help our seniors plan for the future distribution of their assets with confidence.” 

Previous presentations to CCRP members on estate planning were made by attorney at law Dawn Campbell-Douglas and representatives of Dunn Cox.

Ms Alicia Hussey, Attorney-at-Law and Senior Partner, Hussey Legal

EPOC – A model for Jamaica’s progress

Jean Lowrie-Chin/Writer

Finance Minister Fayval Williams cuts the EPOC celebration cake with (from left) Donovan Wignal, MSME Alliance, Courtney Williams, Fiscal Commissioner, Terron Francis, Ministry of Finance and Keith Duncan, EPOC Chair.

Over its 11-year history there have been continuous laurels for the Economic Programme Oversight Committee (EPOC), born out of the need for close monitoring of our economy while benefitting from an IMF loan. The PSOJ’s crime monitoring committee, CMOC, has been modelled on it, and there have been calls for the Education Transformation Programme to have a similar oversight Committee.

At last Friday’s final quarterly EPOC press briefing, Chair Keith Duncan noted that Dr. Peter Phillips serving as Minister of Finance in 2013, ‘heeded the call of civil society and actively guided and supported the establishment of EPOC’ under the joint chairmanship of Bank of Jamaica Governor (BOJ) Richard Byles and former BOJ Governor Brian Wynter.”

Duncan succeeded Byles as co-chair with Wynter, and in 2019 continued as sole chair. Team members at our shop were inspired by Duncan’s passionate resolve that the people of Jamaica must understand our economic status. He kept reminding that EPOC was monitoring “not the IMF plan, but Jamaica’s plan.” He used every possible mode of communication: his team led by Althea Walters pulled on the skills of Adtelligent and PROComm and the media responded positively to his frank, down-to earth updates. Duncan embraced our suggestion to go ‘Pon di Corner’ to engage ordinary Jamaicans in the understanding of our economic progress. Sharing in refreshments, citizens of our inner-city communities listened and asked questions, taking with them simply worded flyers.

At the briefing Finance Minister Fayval Williams lauded the Committee: “The commitment to responsible fiscal policy and prudent fiscal management by successive administrations since 2013 has delivered a reduction in public debt to 68% of GDP – the lowest in almost 50 years and our debt trajectory is on track to meet the target of 60 per cent of GDP by Fiscal Year 2026/27. Macro-economic stability is now entrenched, and key economic indicators are aligned to create a positive outlook for growth and development.”

We owe a debt of gratitude to Duncan and members of EPOC: Richard Lumsden, David Noel, Septimus Blake, Donovan Wignal, Helene Davis-Whyte, Jason Morris, Lenworth Fulton, Ralston Hyman, members of the Finance Ministry team: Terron Francis and Trevor Anderson and members of the Bank of Jamaica team. 

We need not be concerned at the closure of EPOC. Minister Willams announced that the Fiscal Commission as directed by the Independent Fiscal Commission Act passed in 2021, will come into effect on January 1, 2025, and will be led by Courtney Williams in his capacity as Fiscal Commissioner.  Courtney Willams is a seasoned public servant who held a post at the IMF for three years. She noted: “The Independent Fiscal Commission is a permanent agency with a statutory mandate to assess publicly and independently from partisan influence, a government’s fiscal policies, plans, and performance against macroeconomic objectives related to the long-term sustainability of public finances and short to medium-term macroeconomic stability.” 

As the saying goes, “the reward for good work is more work”, and so Minister Williams announced the Fiscal Advisory Committee (FAC), to be chaired by Keith Duncan. “As it was with EPOC,” she said, “the Fiscal Advisory Committee will have representation from a wide cross-section of society including the trade union movement, civil society, academia and the private sector. Along with Mr. Duncan, the Committee will be served by Helene Davis-Whyte, immediate past president of the Jamaica Confederation of Trade Unions; Nancy Pinchas, Executive Director of the Council of Voluntary Social Services; Dr. Patrice Whitely, Head of the Department of Economics at the University of the West Indies, Mona and Kareem Tomlinson, Managing Director of GK Capital Management Limited.” Let us continue to follow the progress of the Commission; it should continue keeping stakeholders on their toes, as did EPOC.

Cocktails With… Judette Coward Puglisi

cocktails-with

To introduce their latest financial package solution, notably JMMB Her Wealth, last Wednesday at the Spanish Court Worthington securities broker and dealer Jamaica Money Market Brokers tapped Mango Media Caribbean Managing Director Judette Coward Puglisi to deliver the keynote address. Wearing her country’s most celebrated designer, Meiling, the Trinbagonian media, communications & public relations specialist encouraged prospective JMMB Her Wealth investors at the launch event to secure their futures, while sharing gems from her own life reserves.

What is your favourite beverage?

Hot chocolate. How else to discover why I am the way I am except at the bottom of a cup? When I’m done, it’s usually time for deep thinking.

Is the election of hotel & real-estate tycoon Donald Trump a triumph for social media fame or a cautionary tale?

It’s a reality circus mixed with large doses of a global horror story thrown in for bad measure.

Is the boosting of a country’s economy the right get-out-jail-free card?

Only if it is accompanied by the increased productivity of its people.

What personality archetypes must make up a team that can best support what you do?

The Loyalist: will work with you without question over a weekend.

The Thinker: is solution-oriented will make any entrepreneur feel less alone.

The Connector: will open doors, so crucial to success.

The Clone: because you always need someone who is just like you.

The Debater: because challenge is a good thing; it prevents group think.

Are tough life lessons crucial to growth?

This presupposes that lessons must be tough in order to learn or grow; if that was true, prisons would not have repeat offenders. A tough or easy lesson is often irrelevant; growth is about an individual’s willingness to do so.

What’s the one book you’ve always wanted to read but have never gotten around to?

We Should All Be Feminists by Nigerian author Chimamanda Ngozi Adichie, a book-length essay. If you have ever watched her

TED Talk you would know why this is at the top of my list. Plus, I am a lipstick-wearing feminist.

Do long hours guarantee success?

No, they don’t, and believe me, I learned that lesson late in the game! I think focused work without interruption makes for a better, more meaningful type of success with limited opportunities for burnout.

How can an entrepreneur identify when he or she has outgrown hustlin’?

When your quotation is accepted without question or negotiation. The hustlin’ stops and the innovation can begin.

What is the one office process you continue to enjoy, no matter your hierarchical rank?

Don’t laugh, but mopping the front entrance. I think because it’s the first point of entry to our building and for me it means “you are welcome”.

Are emotions and figures the only ingredients necessary for a successful communications exchange?

Shared stories and conversation are the common coins of communion.

If you had to choose: speed at the expense of details or vice-versa?

Details. Because speed does not mean a thing if inaccuracy is allowed to run around like a Pokemon gamer.

Source: http://www.jamaicaobserver.com/lifestyle/Cocktails-With—-Judette-Coward-Puglisi_87061

First Global Bank Using Technology For Banking Solutions

firstglobalopen20161013c

Banking on the Go!  GraceKennedy Group CEO Don Wehby holds up a mobile phone to emphasise the ease of doing business on the go.  He was speaking at the official opening of First Global Bank’s Liguanea Branch on October 9, 2016.

FOR IMMEDIATE RELEASE

Kingston, Jamaica – Thursday, October 13, 2016: GraceKennedy Group CEO, Don Wehby has said relevant, cutting-edge technology is central to improving controls, drive operational standards and customer service across all subsidiaries.

According to Wehby, “Technology-based solutions are expected to reduce operating costs while providing convenience and value-added services to our customers.”

He was speaking on Sunday, October 9, 2016 at the official opening of First Global Bank Limited’s new Liguanea branch.

He highlighted some recent tech developments in several of the Group’s financial services companies including: multicurrency machines, interactive teller machines, a mobile banking app, internet-based solution at First Global; the roll out of GKGOnline at GK General Insurance Ltd; and the introduction of TeleSend and Deposit Direct at GraceKennedy Money Services. TeleSend makes money transfers via mobile phone and online functionalities possible, while Deposit Direct allows customers to receive remittances from overseas directly to their bank accounts.

Wehby believes one method through which GraceKennedy can continue to make worthwhile contributions to Jamaica’s growth, is through investing heavily in new technology.

“The Group has made significant investment in technology in all segments. This is expected to improve controls, drive operational efficiency and improve our customer service. We strongly believe that in addition to our hardworking staff members, we can continue to realise growth and success through using new technology as a business strategy that is in keeping with emerging trends and customer demands,” he affirms in an interview recently.

For years, the GraceKennedy Group has kept apace with new and advancing technology in all of its operations.

Wehby said within the GraceKennedy Group, First Global Bank boasts one of the major examples of how technology has totally revamped the operations of the entity.

He stated, “First Global Bank continues to be at the forefront of technology in the banking and financial services sector. Our hardware and software are continuously on the cutting edge and our human resources are second to none,” Wehby stated.

Wehby said the context of Jamaica’s social environment makes investment in technology essential as a way of reaching the unbanked, closing the digital divide and promoting financial inclusion.

“We note the steps being made by the Bank of Jamaica towards facilitating agency banking, with the latest element being the 2016 Banking Services Enforceable Code of Conduct. The sector is eager for all essential components to be put in place as, the convergence of both a sound structure to support and the technology to facilitate agency banking hold great potential for allowing more people to participate in regulated financial channels,” said Wehby.

###

Source: http://jamaica-gleaner.com/article/news/20161024/first-global-bank-using-technology-banking-solutions