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Refurbished Phones 101: What You Should Know Before Purchasing One

Never purchase a refurbished product that does not have a warranty. Samsung and Apple offer a one-year guaranteed on their refurbished phones. The warranty you will get at Amazon, and Best Buy is valid for 90 days.

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A refurbished phone can be a worthwhile investment. You can get great deals at Surplus Net. You, however, need to do your homework so that you ensure you make the right choice. Below are a few things worth keeping in mind.

Every company that deals with refurbished phones will define their product and tactics differently. Nevertheless, the fact is you will be acquiring a used device, probably one that someone used for around a year or two and traded in for a new phone discount.

Take the example of Apple, which sells refurbished phones in its stores and online. The company says that the replacement parts used as the same as those in the new models. Hence, the devices will be fitted with new cables, battery, outer casing, and accessories all packaged in a pristine white box.

Refurbished Phones 101

Samsung also offers the same standards for their refurbished phone they sell online and in respective stores. The company restores the old gadgets to the original condition. The process entails a thorough inspection of every feature and how the phone functions.

However, it is prudent to state that not all refurbished phones will get new parts, such as batteries and cables. For instance, 52% of the people we interviewed in a survey we run said the purchased a model that comes with a new battery.

Conversely, nearly 89% said their devices came with a charging cord, and very few come with the original earphones made by the respective manufacturer.

Given this, it is better to go for products with a certified pre-ownership. If they fail to meet this standard, then request the seller to give you details of the restoration process used, more so if it included battery replacement and the standard parts and accessories that the manufacturer makes.

Check out Apple Store, Consumer Cellular, Amazon, and eBay; these have earned satisfactory marks for overall standards based on our refurbished phone retailer survey scorecard.

Verizon and AT&T also cut, but they are on the lower-rated side of our list.

Refurbished Phones

Ensure You Are Protected

Never purchase a refurbished product that does not have a warranty. Samsung and Apple offer a one-year guaranteed on their refurbished phones. The warranty you will get at Amazon, and Best Buy is valid for 90 days.

Most credit card companies tend to extend the coverage on refurbished devices that have a warranty.

Inquire About The Returns Policy

It might take some time for any technical issues with the phone to show up in the ideal situation. That is why we recommend purchasing your product from a retailer that provides a return policy of at least a month.

Apple Store gives you 14 days while Amazon gives you a month. Some credit card companies might help you in case the retailer rejects your return.

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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.

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Navigating the Process of Selling Deceased Estate Shares

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.

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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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