A staff of Nairamerics who uses Stanbic IBTC as Pension Fund Administrator received this email from Stanbic IBTC and thought to share with us. We in turn thought to share with you our readers. By the way…it is not a sponsored article, we just like it. It is titled “When there is a will”
Shade Uche Abdulai, a widow passed on three years ago and is survived by her three daughters and two sons. Shade never saw the need to write a Will in her lifetime because she thought her children had a cordial relationship with one another and would be able to divide her assets amicably among themselves.
Unfortunately, the seemingly cordial relationship of the children fell apart when it was time to share their mother’s assets. There were arguments and disagreements about who gets what. The children are currently in court challenging each other’s rights to obtaining Letters of Administration over their mother’s estate.
What could Shade have done differently? She could have put in place a simple professionally drafted Will to avoid all the stress and dispute being experienced by her children.
By writing a Will, you can ensure there is adequate financial provision for your dependants as well as communicate your wishes about the distribution of your assets when the inevitable happens. In the absence of a Will, your dependants would be subjected to the long and difficult process of obtaining Letters of Administration over your estate at the time.
As your Pension Fund Administrator, we urge you to put a Will in place today byseeking the guidance of a lawyer on writing a Will which clearly outlines the beneficiaries of your retirement/terminal benefits and other assets.
Regards
Stanbic IBTC Pension Managers Limited
