Latest news with #administrators
Telegraph
6 days ago
- Business
- Telegraph
What is probate of will and how it works
Understanding what probate of will entails is crucial when dealing and distributing someone's assets when they die, but it can be a complex and complicated process. In this guide, we will aim to demystify the topic of probate, and provide you with what you need to know to navigate its intricacies with confidence. We will cover the following: What is probate? When is it needed? The probate process: A step-by-step guide Common probate challenges and how to overcome them FAQs What is probate of will? Probate, specifically probate of will, is the legal process of managing a deceased person's estate, typically by named executors. This includes: Handling assets Paying any outstanding debts Ensuring that beneficiaries receive their inheritance Before any inheritance may be passed on, probate ensures that all financial and legal obligations are met. In order to meet these requirements, executors are granted access to the deceased's bank accounts, investments and even property. Who are the key players in probate? There are several different stakeholders involved in the probate process and it can be confusing without an understanding of them. The most important roles are: Executor: the person or persons named in the will to manage the estate. Executors are responsible for collecting and distributing the deceased's assets, completing any legal documentation and paying off outstanding debts. Administrator: in the event of no will (known as 'intestacy') or the executors being unwilling to act, the court appoints an administrator to manage the deceased's estate. Beneficiaries: those people or organisations in line to inherit from the estate. Probate registry: the UK government office that processes probate applications. HMRC: responsible for collecting any inheritance tax. When is probate of will needed? Probate of will is required when dealing with a deceased person's major financial assets. In many cases, you won't be able to take charge of and distribute assets of significant value until you have a 'grant of probate' – so it is a very important task for executors, and can be a lengthy process. Financial companies and institutions will typically freeze accounts once a person dies, and you will need probate to access assets such as savings and investments or to be able to sell their home. Banks, investment firms and the Land Registry usually require legal proof before releasing funds or transferring ownership. Some banks may pay out small sums without the need for probate, ranging from £5,000 to £50,000, depending on the provider, but you will need other documentation, such as a death certificate, to access this money. If the deceased had no property and an estate worth less than £10,000, you may be able to avoid the stress of getting a grant, but the vast majority of executors do require one. If the deceased owned property solely in their name, probate is usually required. However, if most assets were jointly owned, probate may not be necessary due to ownership transferring directly to the surviving joint owner. What is a grant of probate? A grant of probate is the legal document that you will receive once you have been given authority to access and distribute a deceased person's assets. It is not a quick process. There have been reports of widespread delays with the probate system due to staff shortages and a shift to remote working. This has left some families having to wait months longer to gain control of their late loved one's finances, which can make it harder to pay inheritance tax bills, funeral costs and to sell a property. The probate process: A step-by-step guide Applying for probate of will can be overwhelming; however, following the steps below should make the process less stressful and time-consuming. There are seven steps you'll need to go through: Register the death Find the will Arrange the funeral Contact official organisations and financial providers Value the estate Apply for probate Pay inheritance tax 1. Register the death A death needs to be registered within five working days in most of Britain (eight in Scotland). Once this is done you will receive a copy of the death certificate. Make sure you order multiple copies as financial institutions will require one when you register the death with them and there could be lots of accounts to access. Each copy will cost you £12.50 in England and Wales. Confusingly, banks will sometimes ask for an 'original certificate', but this just means a certified copy. You can order more at a later date if needed. 2. Find the will The will should name an executor – the person responsible for dealing with the finances. If there is no will, then you will need to apply for Letters of Administration. This process is virtually identical to applying for probate in all but name, but can take longer. Once you have the will you should notify all the beneficiaries and place a notice in the Gazette, the official public record, asking potential creditors to come forward. This may sound excessive, but it is necessary to show you have carried out your legal duties as executor. Joe Cobb, of the law firm JMW Solicitors, said: 'Should the executor fail to take the correct measures in identifying the potential creditors and then one comes forward after the assets have been distributed, the creditor may pursue the beneficiaries for the outstanding amount.' 3. Arrange the funeral The deceased may have left instructions for their funeral in their will. Funeral costs are notoriously varied, but on average you should expect to spend £4,285 on a 'simple' attended service, according to the insurer SunLife. Luckily, some banks will pay out funeral expenses before probate is granted. If not, you can later recover the fees from the estate. Simon Hancox, of estate planning service Kings Court Trust, said: 'Executors or administrators can be reimbursed for reasonable expenses from the estate, which could include probate registry fees, funeral expenses, property maintenance, postage costs, the cost of death certificates, property insurance costs, clearance costs, valuation fees and so on.' 4. Contact official organisations and financial providers Government departments such as HM Revenue & Customs and the Department for Work and Pensions will need to know about someone's death to resolve tax or benefit issues. But you don't need to wait for hours on hold. You can use the Tell Us Once service to register the death with the various government departments in one go. You should also contact the banks, pension providers, investment firms and other companies the deceased held funds with. If the deceased held accounts with any of the following firms, then you can use the Death Notification Service to make things easier for yourself by notifying multiple organisations at once:
Forbes
20-05-2025
- Politics
- Forbes
Reinvent Leadership At Universities: Devoted Students Hold The Future
Graduation students who are committed to learning, leading, and building what comes next. Here we are, another graduation season. Once again, the national spotlight focuses on disruption, protests, and political controversy, overshadowing what truly matters: the devoted students who are quietly advancing their futures and embodying the mission of the universities they attend. Today's effective leader is being forced to reinvent on the move. That reality presents a defining moment. It's time for university leadership to step back, recalibrate, and return their attention to the very people they are meant to serve, the students who are committed to learning, leading, and building what comes next. When I worked in the political space, distraction was a daily battle. We faced headlines and noise intended to pull our focus from the work and results we were generating. To win, we had to reclaim the narrative every day and keep it focused on serving the people who elected us. The same principle applies to America's universities. Leadership must now show a commitment to their students by refusing to let protestors, fears of lost government funding, and pundits dominate the story. There are three ways administrators can do this. University leaders must ask themselves: Are we reacting to noise, or are we creating momentum for the future? The cost of remaining reactive is high, not just in terms of reputation, but in missed opportunities to lead with authority and purpose. This is not about putting all their energy into responding to protestors. It's about amplifying the mission-aligned students whose presence proves that your institution works. The unsung heroes of your university are disciplined, innovative, and driven. They are not a PR strategy. They are the product of your core values in motion. Give them the mic. Host the conversations you want to be hosting. Make room for optimism grounded in data, direction, and demonstrated outcomes. If you are an administrator, align your energy with the future. Start by shifting your presence. Invite devoted students into your communication strategy. They are already telling a powerful story, one of persistence, progress, and purpose. They are your most credible advocates. Bring attention back to the fact that education changes people and uncovers the deep value of their character and purpose. Your students are proof of that. They are the living, breathing evidence of your mission fulfilled. The well-being of your university depends on this focus. It is a defining moment for direction. Model what it means to believe in the future and all that is possible. In doing so, you not only signal strength and vision, but you also invite meaningful engagement from alumni, future students, donors, and faculty. Revenue streams that reflect investment in people, not just programs, are yet to be fully realized. But they start here. Let's return to the days when people traveled for miles to hear someone speak in person, not because it was convenient, but because it mattered. Human-to-human experiences create energy, conviction, and clarity. Students make up most of the audience at sporting events and concerts, not behind screens, but in the seats, showing up in person because shared experience matters. They go in person because the connection moves them. That same energy can and should exist in your classrooms, auditoriums, and campus centers. Leadership must not forget this. Host the conversations that matter. They have ideas. They have values. And they want to help shape a world that works better than the one they've inherited. Give them the authority to do so. Extend the invitation to speak, lead, and co-create. This is not about what's going wrong. It never has been. It's about what is working, who is thriving, and what future those students are already starting to build. The conversation at universities must change. It's time to stop reacting and start leading with intention. Administrators must seize this defining moment for direction—one that prioritizes optimism, elevates student voices, and leans into the reality that students are your most valuable data point. They are lifelong learners. They are already future-proofing their own paths. They're ready to take meaningful action if you let them. Model reinvention. Be deliberate in your presence. Lead with calm confidence. Align your voice with the mission, not the noise. Good news can and must make the front page. Let that news be about the students who reflect your university's best work and brightest future. That's leadership. That's devotion. That's the opportunity in front of you.
Yahoo
09-05-2025
- Business
- Yahoo
Ysleta ISD offers $5,000 resignation incentive for up to 400 teachers, administrators
EL PASO, Texas (EL PASO MATTERS) — The Ysleta Independent School District is offering teachers, counselors and administrators a $5,000 incentive to voluntarily resign to help reduce personnel costs as it prepares its budget for the coming school year. In an email sent out to administrators obtained by El Paso Matters this week, YISD states it is offering to buy out the first 400 qualified employees to submit their resignation notice early. The incentive is open to those in full-time administrative positions or those employed under Chapter 21 contracts – typically teachers, counselors, administrators and others that require state certification, according to the letter. The district states the incentive applies only to those who were already planning to resign or retire from the district at the end of their 2024-25 contract. Employees have until May 29 to submit the resignation notice to the district's human resources office to qualify for the incentive. The resignation would be effective on the employee's last day of duty this school year. 'Due to declining enrollment and in preparation for the upcoming school year, the early notification incentive is being offered to ensure proper staffing at our campuses and support the effective use of district funds,' YISD officials said in an email statement to El Paso Matters. No other details on the buyout were made available, and the district didn't respond to questions about how much the resignations are estimated to save the district in personnel costs or whether it intended to implement layoffs if 400 employees don't take the incentive. During an April board meeting, YISD officials estimated the district would generate $368.3 million in revenue under the current school financing laws, but did not reveal its projected expenses or whether they expect a deficit. Last year, the YISD board approved a $408.2 million budget with a $17.2 million deficit. The district has also considered taking out a $25 million loan to cover its payroll expenses if it depletes its cash reserves while awaiting payment from the state. The YISD buyout offer comes as school districts throughout the region attempt to cut their budgets to address ongoing budget deficits. Socorro ISD this week laid off 43 teachers after also offering incentives for early retirement and resignations. SISD had initially said it planned to lay off up to 300 employees. EPISD is closing eight elementary schools over the next two years to reduce expenses. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Washington Post
08-05-2025
- General
- Washington Post
Joan Miró set out to destroy painting
When you walk through the galleries of an art museum, it's evident that the people responsible for all this — the artists, framers, conservators, curators, administrators and architects — had designs on you. Their aims may have differed, but broadly speaking, they thought it would benefit you to see all that they have set before your eyes. They assumed the experience would be edifying. They were building, not destroying.
CTV News
07-05-2025
- Politics
- CTV News
Saskatoon lowers expectations for snow removal response on some roads
WATCH: Saskatoon councillors are calling on administrators to come up with a plan to speed up the city's snow removal response.
