In 2019, Onyinye Igwe’s life took a challenging turn when she lost her father. wills
Onyinye Igwe is among the many Nigerians who are often denied their inheritance because their parents failed to will it to them legally.
Though her father left behind a legacy of wealth, including houses, land, and savings, Onyinye found herself facing financial difficulties in the aftermath of his passing.
Tragically, her father, like many others in Nigeria, held superstitious beliefs about writing a will, and thus passed away intestate.
With no legal document outlining the distribution of his estate, the responsibility fell upon his children to divide his assets.
Despite being the eldest daughter, Onyinye and her five sisters found themselves excluded from inheriting any part of their father’s estate.
Under traditional customs prevalent among the Igbo people, all of the inheritance was directed to the three male members of the family.
This situation is not unique to Onyinye; countless women in parts of south-eastern Nigeria continue to face similar struggles, being unjustly excluded from their rightful inheritance.
Despite a Supreme Court ruling against such discriminatory practices, the tradition persists, leaving many women without the support and security they deserve.
Onyinye’s story is a distressing reminder of the ongoing battle for gender equality and justice within Nigerian society and the need to write a will
Background
In the complicated events of life, there are certain inevitabilities that humans must confront, among which is mortality.
While the thought of an individual’s demise may be uncomfortable, it is a reality that demands acknowledgement and preparation.
The Jurist Newspaper brings you fundamental ways to prepare for the future and safeguard the interests of loved ones by drafting a will.
What is a Will?
A will, often referred to as a last will, is a legal document that outlines a person’s wishes regarding the distribution of their assets and the management of their affairs after their death.
It serves as a roadmap for the disposition of one’s properties and provides instructions on how assets should be divided among beneficiaries, who will be entrusted with the responsibility of carrying out these wishes.
How to write a will
Writing a will is a task that requires careful consideration and attention to detail.
While it is possible to create a will without the assistance of a legal professional, seeking guidance from an experienced estate planning attorney can help ensure that your will accurately reflects your intentions and complies with applicable laws.
Key steps to follow when drafting a will:
Take Inventory of Assets: Begin by compiling a comprehensive list of your assets, including real estate, financial accounts, investments, personal belongings, and any other property of value.
Identify Beneficiaries: Determine who you would like to inherit your assets upon your passing. This may include family members, friends, charitable organizations, or other individuals or entities.
Appoint an Executor: Designate an executor or personal representative who will be responsible for administering your estate, managing your affairs, and ensuring that your wishes are carried out according to your will.
Specify Guardianship: If you have minor children or dependents, you should specify who will assume guardianship responsibilities in the event of your death.
Consult Legal Counsel: Seek the assistance of an estate planning attorney who can help you draft a legally binding will that reflects your wishes and complies with relevant laws and regulations.
Execute and Store Your Will: Once your will is finalized, sign it in the presence of witnesses as required by law. Store the original document in a safe and secure location, such as a locked file cabinet or a safe deposit box, and provide copies to your executor and other relevant parties.
Importance of a Will
The importance of having a will cannot be overstated. A will serves several critical functions, including:
A will enables one to dictate how assets will be distributed among beneficiaries, ensuring that wishes are honoured and that loved ones are provided for according to intentions.
Consequently, for parents with minor children, a will allows to designate a guardian who will assume responsibility for the care and upbringing of children in the event of death.
By appointing an executor in preparing a will, a trusted individual can be designated to oversee the administration of properties and carry out the instructions outlined in the will.
A clear and legally valid will help minimize disputes and conflicts among family members and beneficiaries, reducing the likelihood of costly and contentious probate proceedings.
Accordingly, having a will provides peace of mind, knowing that proactive steps have been taken to protect loved ones and ensure that affairs are handled according to wishes after an individual’s demise.
Consequences of Not Writing a Will
Failing to draft a will can have significant consequences, both for you and your loved ones. Without a will in place:
Intestacy Laws Apply: If a person dies without a will, their estate will be subject to intestacy laws, which dictate how the assets will be distributed among heirs based on predefined legal guidelines.
This, however, may result in assets being distributed in a manner that does not align with your wishes or priorities.
Potential Family Disputes: The absence of a will can lead to disagreements and conflicts among family members regarding the distribution of assets, guardianship of minor children, and other important matters.
This can strain relationships and create lasting rifts within families.
Delayed Probate Process: Without clear instructions provided in a will, the probate process may be prolonged and complicated, leading to delays in the distribution of assets and increased administrative expenses.
Loss of Control: Failing to write a will means relinquishing control over the disposition of your estate and leaving important decisions regarding assets and affairs in the hands of the court and state intestacy laws.
Risk of Unintended Beneficiaries: In the absence of a will, assets may pass to unintended beneficiaries, such as distant relatives or estranged family members, rather than the individuals or organizations that would have been preferred.
Drafting a will is a vital aspect of responsible estate planning that allows individuals to protect their legacy, provide for their loved ones, and ensure that their wishes are carried out after demise.
By taking the time to create a comprehensive and legally valid will, people can enjoy greater peace of mind knowing that they have taken proactive steps to safeguard their estate and the interests of those they hold dear.
What you should know : A will typically includes the following elements:
- Testator Information: The will should contain the name and address of the person creating the will, known as the testator.
- Executor Details: Names and addresses of at least two executors who will be responsible for ensuring the will’s provisions are carried out according to the testator’s wishes.
- Asset Inventory: A comprehensive list of the testator’s assets, which may encompass real estate, bank accounts, pension funds, jewellery, vehicles, and stocks, among other items.
- Beneficiary Information and Asset Distribution: Identification of individuals or entities designated to inherit or benefit from the assets outlined in the will. This section should specify the assets allocated to each beneficiary, the manner of distribution, and whether assets are to be divided equally or shared jointly among beneficiaries.
- Witness Details: Names, addresses, and occupations of at least two witnesses who can attest to the validity of the will.
By including these essential components, a will ensures clear instructions for the distribution of assets and helps mitigate potential disputes among beneficiaries.