Author

gift
General,

Every type of gift you can include in your will – and how to go about it

no comment

A planned gift that is mentioned in your will is known as a bequest and can be left to anyone you want. This includes your family members, your loved ones, extended relatives and even a charity or organisation you care about. There are a number of different processes involved in mentioning a gift in your will, but you can easily follow our free will writing template below to avoid confusion.

This article will help you figure out what items in your possession qualify as gifts.

Consult your family

Talk to your family before you decide leave a bequest for them or anyone else. When you decide to pass on your possession, you need to take certain factors into account. You don’t have to tell people right away, but it’s a good idea to inform them of your decision so that there is no confusion later on. It also helps to ensure that your wishes are carried out in the way you desire, if your loved ones know what you wanted. Even if you plan on giving something to a charity tell them so that they are aware and can understand your reasons.

Decide on your personal possessions

Wills are not just for high value items; items that are of sentimental value can also be included. One of the benefits of writing a will is that you get to decide on the future owner of each one of them. There are four different categories into which these gifts are divided and can include from anything from a book to acres of land.

Specific Gifts

These are the type of gifts which are individual items that you have in your possession. You can easily mention them in your will by writing the name of the article which can include jewellery, books, paintings, diaries, shares and even cash. You can also leave property or cars as gifts but usually, they become part of the main estate to be divided amongst the beneficiaries you have nominated in your will. If it’s an item, then you do not have to write down its price along with the name because it is being left more for its sentimental value than monetary value.

Pecuniary Gifts

This type of gift is a direct financial donation to a charity or individual. The amount of money is fixed and cannot be changed later on. The total money you leave will be dependent on banking taxes and may depreciate over time. If you do want to leave money to someone, you must state the amount of money in the appropriate currency and how you want it to be used if it is for an organisation.

Residual Gifts

These are gifts that are passed on once you have divided all your assets amongst your loved ones. These types of gifts become valid once everything is shared and all the expenses have been accounted for. Usually, people leave the remainder of their assets or a fixed percentage of what’s left. Residual gifts are preferred over monetary gifts because their value does not decrease with time. The amount usually changes with time and may increase in future.

Get the help of a solicitor

Once you have decided what you want to do with your personal belongings, then it’s time to write your will. Some people prefer writing their will on their own; others make use of the free will writing templates available online, while most hire a solicitor to help as they are experts in writing wills and can help you in ensuring that all your wishes are fulfilled and your intentions are made clear. There is so much complex legal terminology involved in writing a will that only a person with expertise can be sure to get it right. Seeking the services of a solicitor is therefore definitely a sensible idea.

Indicate how your gift should be used

When you are bequeathing a gift to a charitable organisation, it’s your right to decide how the money or that item will be used. You can mention you want to spend the money on a research project for a disease, or you can direct it towards the general betterment of humans, animals or technology as per your wishes.

General will writing template for gifts

I (insert your name here) bequeath to (enter the name of the charity or facility) with the Charity Registration Number (XXXXX) and Bank Account number (123 456 789) (depending on what the organisation is and which country you are from)

(choose one of the following based on what you are donating)

The whole of my estate

(enter value) percentage of my estate

The residue of my estate

The amount of $/£/€ (enter the value of your gift in cash and according to your currency)

my (enter the name of item or asset)

unconditionally for its general purposes and I direct that the receipt of the Treasurer or other duly authorised officer shall be a sufficient discharge to my Executors.

Important points to know

If you do not mention anything specific in your will as a gift, it will automatically be included in your assets and become part of your overall estate. Everything that remains after all your current and future expenses have been paid is the total value of your estate.

You can only include things in your will to gift that you own. It cannot be something that you  co-own or share with someone else. In such a case, that item is passed on to the remaining partner(s) in the event of your death.

Avoid future conflicts

For sure it’s your choice to do what you wish with what you own but do consider carefully all the decisions you make. You should prioritise your family first or take them into your confidence before donating something elsewhere so that there are no confusions and conflicts after your death.

Finally, this is a hard decision to make so you should take your time and not rush with your choices. Hopefully, this article has helped you to grasp the basics of gift giving and how to go about the process of assigning them in your will.

Blockchain Industry
General,

How to Enter the Blockchain Industry?

no comment

Blockchain might be a new entry to the tech world, but it surely has the potential to make waves amongst the smartest minds around the world.

For those who do not know, Blockchain is a distributed ledger. The unique selling point of this ingenious creation is that it does not have a central authority which means that it is a peer-to-peer database. As the name suggests, Blockchain is a chain of blocks that can hold transactional records or virtually anything and everything that has value.

Each block is linked to the next one with the help of cryptography. So every block consists of a timestamp and a cryptography hash. All the users have their own private key which they can utilize to make changes to their persona Blockchain file. However, one data has been inserted in a block, it cannot be altered until and unless the change is made to the subsequent blocks as well which is only possible with the consensus of all the members in the network.

There are countless organizations that are scheming to adopt Blockchain Technologies since, in the present times, this innovative child of science is the best mode for secure transfer of information.

With Blockchain Technology being widely accepted by entrepreneurs, Blockchain will definitely be the hottest field to build a career in. But, finding an entrance to this realm can be perplexing as it is not an old, established branch of knowledge. Therefore, it can be challenging to explore the sources for acquiring a deep understanding of this subject. Moreover, since companies have just begun to experiment with Blockchain, it can be confusing for a professional to identify and hop on the correct route that will take them to success.

Hence, I write this article today to enable aspiring blockchain professionals to choose the right direction for achieving a long-lasting, stable career.

  1. Become a Blockchain Security Expert:

Firms are devising a multitude of ways to leverage Blockchain for making their infrastructure solid and secure. A great example of this is IBM that is strategizing to optimize supply chain management by utilizing this resourceful technology. This way they can track and monitor goods and services making the supply chain more reliable.

And, this is just one instance that I am talking about. The travel sector is framing techniques to apply the Blockchain Technology for enforcing biometric verification. Similarly, the security domain can take support from this creative invention for the safety of records.

Since it is a new addition in the tech world, it is still a bit unclear which all industries will embrace the usage of Blockchain. There has been a fifteen percent increase in its employment in the healthcare field and analysts project that Blockchain’s implementation will elevate by fifty-five percent by the years 2025.

 

  1. Establish yourself as a Blockchain Developer

The Blockchain Industry will be worth 300 billion Dollars by 2025. The amalgamation of Blockchain and AI will bring the fourth industrial revolution, that too on a very large scale.

By leveraging Blockchain & the internet, making transactions more secure than ever and even small businesses can access this type of strong encryption which shows that Blockchain will revamp not just big but small enterprises as well.

  1. Create a Fintech Application

There has always been an unstable relationship between banks & entrepreneurs. Businesses drive the economy and need funding to do so. For this purpose, they approach banks and there begins a rocky association.

Many times, entrepreneurs lunch businesses by using high-interest credit cards and are unable to keep the costs low. So it would be beneficial for you to construct apps for businesses to secure funds and earn revenues.

Brand Reputation For Business
Business,

Prominence Of Brand Reputation For Business

no comment

The products and services your organization renders to the customers are indeed satisfactory. To have a successful business, it is necessary to have a strong brand reputation in the business market. Your products or services might be highly appreciated by your customers. How is their perception about your brand? Hence, the important thing for a business is the reputation of your brand in the business industry. It is the customers and your potential business clients who invest in your products. Are you loyal to your customers? Is your brand trustworthy? In today’s world, having a brand reputation is as important as providing high-quality services. In this article, you will understand the importance of brand reputation in your business.

A short note on brand reputation

The perception about your brand by the market, customers and stakeholders determines your brand reputation. It is about how your customers and others in the market view your brand. The ideas and opinions your customers have about your brand and services help form a reputation in your business. To build a powerful reputation, you should make sure that your customers and the potential clients must have good experience while buying your products, receive a healthy customer service and a sound after-sales services provided by your business organization.

Significance of brand reputation

  1. Get loyalty of your customers:

A good reputation of your company can help gain the loyalty of your customers. A reputable brand also help you notch a large number of customers who use your products and services on a long-term basis. The customers who have been using your products for a long time remain loyal to your brand by purchasing products from your company and not switching to other brands.

  1. Increased productivity:

When your brand carve a niche in the market and your products are appreciated and highly purchased by your clients, then you will bound to see a tremendous increase in the sales and your business will experience profits. The consistent top quality services and products of your company have made customers trust on your brand. A brand reputation plays a significant role in the steep rise of productivity.

  1. Thrive in the competitive market:

In the age of technology, it is hard to survive in the business industry. New companies are emerging with innovative products with each passing day. If your brand has a high reputation in the business market, then your business will be able to thrive and survive in competitive market.

  1. Trust matters the most:

When you fulfill the expectations of the customers by presenting top class services at a stretch, then your customers are likely to develop trust on your brand by becoming a regular customer of your brand.

Monitor your brand

You remain unaware of what is going on in the online social media. You do not come to know what your customers are talking about your brand over social media platforms. To keep tabs on the online conversations of your customers in connection to your brand, you will have to book services from a trusted media monitoring service provider. By using targeted keywords and tools, you will be able to track online conversations about your business organization, services and brand on various websites and blogs.

Implement brand monitoring service to retain a good reputation in the business market.