Everyone knows death is inevitable, but planning for it can feel uncomfortable. However, writing a will is a crucial step in ensuring your wishes are respected after you’re gone. It provides peace of mind for you and clarity for your loved ones during a difficult time.
This blog post explores the importance of writing a will in Nigeria and offers a step-by-step guide to get you started.
Why You Need a Will in Nigeria
- Control Your Assets: A will allows you to decide who inherits your belongings, including property, bank accounts, and investments. Without a will, Nigerian inheritance laws dictate how your assets are distributed, which may not align with your wishes.
- Protect Your Loved Ones: A clear will minimises potential conflict among family members regarding your estate. It can also ensure your dependents, especially children, are taken care of financially.
- Appoint Guardians: If you have minor children, a will allows you to name a guardian who will care for them after your passing.
- Minimise Legal hassles: A will simplifies the probate process, saving your loved ones time, money, and unnecessary stress.
How to Write a Will in Nigeria
1. Gather Information:
- List of Assets: Make a comprehensive list of your assets, including real estate, vehicles, bank accounts, investments, and personal belongings.
- Beneficiary Details: Determine who you want to inherit your assets and specify their share or specific items. This can include family members, friends, charities, or even pets (through trusts).
- Guardian Selection (if applicable): If you have minor children, choose a responsible guardian to care for them after your passing.
2. Choose an Executor:
- This is the trusted person responsible for carrying out your will’s instructions, including distributing assets, settling debts, and managing any legal matters.
- Choose someone who is reliable, organised, and familiar with your wishes.
3. Write the Will:
- You can write your will yourself or use a lawyer for a more complex estate.
- The following information should be included:
- Your full name and address
- Statement of testamentary capacity (declaring you are of sound mind)
- List of beneficiaries and their designated share of inheritance
- Details of your chosen executor(s)
- Appointment of guardian(s) for minor children (if applicable)
- Signature and date
- Witnesses: Your will must be signed by you and witnessed by two people who are not beneficiaries of the will. The witnesses must be present when you sign, and they must also sign the will themselves.
4. Store Your Will Securely:
- Keep your original will in a safe place, like a deposit box or with a trusted friend/lawyer.
- Inform your executor of the location of your will.
Additional Tips:
- Review and Update: It’s advisable to review and update your will every few years, especially if your life circumstances change (marriage, birth of children, etc.)
- Legal Consultation: For complex estates or specific needs, consider consulting a lawyer to ensure your will is legally sound and reflects your wishes accurately.
Conclusion
Writing a will is a thoughtful and responsible act that ensures your loved ones are taken care of after your passing. By following these steps and seeking professional guidance when necessary, you can create a clear and valid will that brings peace of mind and minimises future complications for your family.
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