It reveals ways by which people can inherit property in Nigeria which may be through testacy or intestacy. It emphasizes the making of a Will and its advantages over other means of passing assets.
It reveals ways by which people can inherit property in Nigeria which may be through testacy or intestacy. It emphasizes the making of a Will and its advantages over other means of passing assets.
It reveals ways by which people can inherit property in Nigeria which may be through testacy or intestacy. It emphasizes the making of a Will and its advantages over other means of passing assets.
barrykehinde@yahoo.co.uk 08038556525 . The verb of inheritance is inherit. So what does it mean to inherit? Oxford Dictionary defines it this way to inherit is to receive money, property etc. as a result of the death of the previous owner.
NOTE: The idea of inheritance is not new; it is an ancient practice, though the concept of documenting (in writing) how property is inherited is of modern development.
In the Old Testament era, possessions were passed to the sons while the eldest son would receive double portion (Deut. 21 vs 17). Women were not to inherit from their fathers except in the absence of a son (Numbers 27 vs 1 11). If a man has no offspring, then his relations would inherit his property (Numbers 27 vs 9). It was also in practice to call ones offsprings together for the last blessings and instructions on burial and other things (Gen. 48, 49 and 50).
Section 43 of the Nigerian Constitution provides:
every citizen of Nigeria shall have the right to acquire and own immovable property anywhere in Nigeria.
So your right to give your possessions to whoever you want is part of your right to own property and distribute it as it pleases you. SUCCESSION TESTATE INHERITANCE INTESTATE INHERITANCE This refers to a situation where a person dies leaving a will behind. This deals with a situation where a person dies without a will or with an invalid will. A will is a legal document written by a person called testator in which he/she states how his/her assets should be distributed among certain persons regarded as his/her beneficiaries upon death.
A good man leaveth an inheritance to his childrens children (Proverbs 13:22). For where a testament is, there must also of necessity be the death of the testator. For a testament is of force after men are dead: otherwise it is of no strength at all while the testator liveth. (Hebrews 9: 16- 17).
Landed property e.g. house, farmland or undeveloped land. Furniture Clothes Books secular and religious Domestic utensils Jewelries Insurance benefits Pension entitlements Balance in bank accounts Shares in companies Personal treasures e.g. musical instruments. Vehicles Benefits in partnership business Electronics Royalties Your body, etc. Some of the wrong notions people have about a will are:
it is a reminder of death. a will should be written by those who are sick or old. a will is only meant for the rich. the idea of writing a will is unAfrican. a will brings disaffection after a makers death, among others.
Appointing elderly or older executors and trustees or willingly ones e.g. Lady Diana appointed her mother as her executives Keeping their wills in a place unknown to anyone Giving joint or family property in a will Depriving a relative without disclosing a reason A man who has shared all that he has in his lifetime or does not have asset worthy of being transferred through a will. To Advance the work of the kingdom. e.g. I hereby direct my Trustees to give the sum of #50,000 every month to assist the Anglican Cathedral, Auchi, Edo. Funeral directions e.g. I direct my Executors and Trustees to ensure that I am buried, after opportunity has been given to as many people as possible to view my corpse lying in state, in my house at Osi Road Benin, Edo State. My tomb should be located next to my mothers tomb in the compound. To give special protection e.g. Maintenance of Mrs. Chukwuma. She shall be given #60,000 a month. The amounts may be reviewed by my Trustees from time to time having regard to the cost of living in Nigeria and funds available in the Chukwuma Trust Account Maintenance of a trust account Protection of Business Interests
Provision of education to your children Protection of a spouses interests Financial Assistance to others Charity & Scholarship Special care for a physically challenged dependant Provision of financial security Maintenance of peace Set up annual lecture in your memory or annual christian programme. Setting up a foundation e.g. Nobel Laurel. It must name identifiable beneficiaries. It specifies properties. It must appoint executors. To ensure that your property get to your desired hands. To ensure peace after your demise. To ensure that you appoint your executors. To give yourself an opportunity to express your last wishes. OR With the sophistication in society and the practice of modernity, a number of persons nowadays make wills before they die. If this is done, and the will is validly made in law, then the property of the deceased will be distributed according to his testamentary wishes as contained in the will. In this latter case, the deceased is said to have died testate and there is therefore really no room for any speculation as to how the property should be distributed. The testator has said it all in his will which must be followed to the letter, since persons alive cannot rewrite the will of a testator.
NIKI TOBI.
Does a united and loving nuclear family need a will?
Who needs a will? Can I will my gun? Can I will my debt? Can I will my dog?
Chauvet V 2007 Review of Kanawati N and M Abder Raziq 2005 Mereruka and His Family Part I The Tomb of Meryteti The Australian Centre For Egyptology Reports 21 Published by Aris and Phillips