Financial Closure- When a Loved One Departs

When someone close to you dies, especially a family member, something that can add on to your misery is the whole procedure of sorting out financial assets and liabilities. Dealing with the paperwork and documentation gets confusing, for those already dealing with the loss. There are some essential procedures that need to be followed to avoid compliance and other legal issues impending smooth transfer of assets. So, here’s a check list!

The first and the most important documentation that is needed to permit transference of inheritance is a WILL. A Will needs to clearly state and describe the assets, and the share of each beneficiary. While tangible assets are the most common ones, the intangible assets such as copyrights and trademarks, and other intellectual properties can also be transferred through a Will. Registering a Will is as important as creating one, such that the terms and conditions mentioned in the Will are enforceable by law. For example, an ancestral property cannot be passed on to a different beneficiary other, because the right to a share in ancestral property accrues by birth only. After the death of the owner, the Will is probated by the legal heir, while the court will send notices to other claimants as well. (A probate is copy of the Will that is certified under the seal of a court of a competent jurisdiction and is conclusive of evidence of the validity of the Will.) What if there is no Will at all? Well, in that case the inheritance will be based on the applicable laws- the legal heir has to obtain a Succession Certificate and the procedure thereafter is long and exhausting.

What else apart from the Will? The legal heir needs a death certificate to start with, also it is compulsory to register the death within a specified period of time, and if failed to do so, there maybe be charges and additional paperwork. Probate or Succession Certificate is another document that has to be submitted along with the claims form provided by the organization. Also, copies of document that establish ownership should be provided with an ID and other proof of the person in whose name the assets are to be transferred.

The other side to claiming assets and closing accounts is handling taxes, loans and other liabilities. The legal heirs are obliged to pay off the debts, and this obligation rests on the proportion of shares inherited by them. There may be other loose ends to closure, such as agreements and business partnerships that have to be dealt with. It is best to consult a local lawyer in this regard.

A few simple safeguards taken early on can save a lot of hassle!

The Secret to Successful High Street Shopping Experience

High street shopping popular to cities in Europe, particularly the UK offer a fun Mix of fashion and department stores where customers can experience shopping at its best. Whether big brand names or independent shops these high streets are a home to varying products and services for the customer and in most cases offer places to eat or grab a cup of coffee.  However with the growth of technology and changing patterns of shopping, online stores may be a liable threat to traditional businesses, as the high street has changed in recent years. In order to thrive, retail stores or high street business have implemented certain strategies to give their customers utmost satisfaction.

Motivating the customer

A strategy that serves both the store and the customer is to further integrate the customer in the sales process. This works because customers feel more satisfied with service when they are in charge of certain activities, for instance installing self-service checkouts allows the customer bill their item themselves, reduces the work load of staff and thus improves productivity. The customer is satisfied and the store benefits from it, a win-win situation.

Focus on the people

Another useful strategy is to ensure continuity and stability of staff. This will serve to ensure the growth of the store rather than constantly fluctuating members of staff who struggle to cope with daily operations in the store. This is most important for store management, the management staff should be retained for at least three years to ensure improved competence and leadership potential.  The most important thing is the growth of the staff- management and subordinate staff.


This strategy is aimed at increasing store performance by reviewing the performance of all aspects of the store. This helps to establish the strengths and weaknesses of the store, then working towards maintaining the strengths and overcoming the weaknesses. In reviewing store performance, basic performance indices should be set as a yardstick of measurement. And the process should be carried out periodically.


This word was coined by George Ritzer, an American sociologist and author. He defines the word twist as the use of sound, ambience, emotion and activity to motivate customers and increase their interest in the products and put them in the mood to buy. Following this definition, stores can improve customer satisfaction by alluring them with emotion, sound and more. For instance the new Disney Store on London’s Oxford Street. These types of stores are designed to transform a dull shopping retail trip to a fun, and captivating experience.

Social Proof

Research has shown that customers buy 100% of the time for emotional rather than rational reasons. After purchase has been made, they try to justify it with logic. They seek to convince themselves and the other people in their lives that they have made a smart choice.

Testimonials are part of the sales process. This should be taken to the next level to aid improvement in customer satisfaction by providing a printed copy of testimonials or other social proofs.  Customers enjoy their shopping experience when they can justify their decisions with this information.