Business
What You Need to Know About Mobile Messaging & GDPR [Infographic]
A Brief Introduction to GDPR
The most significant moment in global data privacy regulation in recent history,GDPR(or the General Data Protection Regulation) was formally put into law by the European Union on May 25th, 2018. GDPR aims to give individual European citizens more control over how their data is used by organizations. It also places the onus on organizations to process data responsibly and securely. The act of processing can refer to the:
“collection, recording, organization, structuring, storage, adaptation or alteration, retrieval, consultation, use, disclosure by transmission, dissemination or otherwise making available, alignment or combination, restriction, erasure or destruction of personal data.” (Source:EU Commission)
Why Do you Need to GDPR-Proof Your Mobile Messaging?
Failure to comply with GDPR will result in serious penalties. For example, the most serious breaches can cost a company up to 4% of their annual global turnover or a €20 million fine. What’s more, this can cause enormous reputational damage which will likely result in lost business.
While many people focus on the punitive aspects of GDPR, it is ultimately there to help organizations by holding them to a higher standard when it comes to data protection. One of the natural offshoots of GDPR compliance is that it helps to establish better data hygiene practices, and this can result in lower IT costs and a better quality of data. Also, GDPR-proofing your business is a great way to demonstrate to your customer base that you care about their rights.
Discover More About GDPR & Mobile Messaging
If you want to ensure that your mobile messaging communications strategy is GDPR-friendly, then you may want to check out the below infographic fromCadoo. This information contains a lot of helpful information, including:
- A brief explainer of GDPR
- Some interesting facts and figures
- A break-down of peoples’ rights under GDPR
- A summary of the benefits of GDPR-compliance
- Ten tips for making your mobile messaging communications more GDPR-friendly
Business
Navigating the Process of Selling Deceased Estate Shares
This article aims to provide a comprehensive guide to selling shares from a deceased estate. Process of Selling Deceased Estate Shares.
Table of Contents
1. Understanding the Basics of Selling Deceased Estate Shares
Dealing with a deceased estate can be a challenging and emotional process, especially when it comes to handling financial assets like shares. This article aims to provide a comprehensive guide to selling shares from a deceased estate.
2. What are Deceased Estate Shares?
Deceased estate shares refer to the stocks and shares that were owned by an individual who has passed away. These shares become part of the deceased’s estate and are subject to the terms of their will or estate plan.
3. The Importance of Valuing the Shares
The first step in selling deceased estate shares is to obtain a current valuation. This valuation is crucial for several reasons: it helps in distributing the estate among beneficiaries, it may be necessary for tax purposes, and it gives an idea of the market value of the shares.
4. Legal Requirements and Executor Responsibilities
The executor of the estate plays a pivotal role in the management and distribution of the deceased’s assets. This section will cover the legal responsibilities and steps the executor needs to take to lawfully sell the shares.
5. Obtaining Probate
Before any action can be taken with the shares, it’s often necessary to obtain probate. Probate is a legal process that confirms the executor’s authority to deal with the deceased’s assets.
Transferring Shares into the Executor’s Name
Once probate is granted, shares may need to be transferred into the name of the executor. This process varies depending on the company and the type of shares.
6. The Process of Selling Shares
After completing legal formalities, the executor can proceed with selling the shares. This section will outline the steps involved in this process, including choosing a brokerage or financial service, understanding market conditions, and making informed decisions.
Deciding on the Right Time to Sell
Timing can significantly impact the returns from selling shares. Executors need to consider market conditions and financial advice to determine the best time to sell.
Completing the Sale
This subsection will detail the actual process of selling shares, including placing orders, handling transaction fees, and ensuring all regulatory requirements are met.
7. Navigating Tax Implications and Reporting
Managing tax obligations is a critical aspect of selling deceased estate shares. This section will explain the potential tax implications and the importance of accurate reporting for both capital gains tax and inheritance tax considerations.
Understanding Capital Gains Tax Responsibilities
When shares are sold, any profit made from the time of the deceased’s passing to the sale date may be subject to capital gains tax. Executors need to be aware of these implications and plan accordingly.
Inheritance Tax Considerations
In some jurisdictions, the value of the deceased estate’s shares might impact inheritance tax calculations. It’s essential for executors to understand these aspects in order to ensure compliance with tax laws.
8. Common Challenges and How to Overcome Them
Selling deceased estate shares can present unique challenges. This section will discuss common issues such as disputed wills, fragmented information about the shares, and market volatility.
Dealing with Disputed Wills and Beneficiary Disagreements
Disputes over the will or disagreements among beneficiaries can complicate the process. Executors must handle these situations delicately and legally.
Managing Market Volatility
Shares can be subject to market fluctuations. Executors should be prepared for this volatility and may need to consult financial advisors to navigate these waters effectively.
9. Tips for Executors Handling Deceased Estate Shares
This section will provide practical advice for executors, including the importance of seeking professional advice, keeping thorough records, and communicating clearly with beneficiaries.
Seeking Professional Financial and Legal Advice
The complexity of selling shares from a deceased estate often necessitates professional advice. This can range from legal counsel to financial advisory services.
Record Keeping and Communication with Beneficiaries
Maintaining transparent and thorough records is crucial. Executors should also prioritize clear and consistent communication with all beneficiaries to avoid misunderstandings.
Conclusion
Selling shares from a deceased estate is a responsibility that requires careful attention to legal, financial, and interpersonal dynamics. By understanding the process, staying informed about tax obligations, and tackling challenges head-on, executors can fulfill their duties effectively and respectfully.
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