The University of Rhode Island has announced that two of its alumni, John Parker, who was also a professor there, and David E Parker, have provided for legacies of around $2.5million for the URI in their estate plans.The legacies, one of the largest bequests ever received by the URI, will be used to help fund new building works at the College of Engineering and to fund two endowments. The first is an existing endowment providing funding to undergraduates studying ocean engineering and the second, which will be in the name of the testators, will provide library services in support of the engineering curriculum.“The Parker brothers’ gifts will have a tremendous impact on the College and its students, providing significant support to a number of college priorities, including the College of Engineering Future Fund, the mechanical engineering department and scholarships,” commented Raymond Wright, Dean of the College of Engineering. “John was a valued member of the College faculty in his day. He was well respected and passionately committed to teaching students about engineering. The philanthropic support from John and his brother David will have a tangible effect on the College, its faculty and students.”
The 2012 Will Aid survey into wills and inheritance issues has revealed that 60% of people surveyed have not yet written a will, yet many people have given some thought to what they would do with an inheritance, should one come their way.
Manx National Heritage (Manx Museum and National Trust) has received an overwhelming response to its request for ideas as to how to spend a £1 million bequest from former Isle of Man resident Donny Collister.
The Legal Services Board (LSB) has announced the next steps in delivering greater protection to consumers of will-writing, probate and estate administration services in England and Wales.
Over 15,500 wills in England and Wales failed to appoint an executor, or the executor was unable or unwilling to administer the estate, according to the latest 2011 data from the Probate Service, obtained by people tracing firm Title Research. This is a 5% increase on 2010.