Like I said in the previous article your last Will gives you the power to determine a lot of things after your demise. Since your Will is seen as your last wish, it is usually carried out just as it is stated. Wills are creations of Laws of the State, so be rest assured that they are governed by the provisions of that law.
First, you have to get yourself a lawyer and tell him all the properties you have. Note the word “ALL”, including the intangible ones (shares and stock in companies, moreover any property left out of the Will is left out. It would probably be governed by customs and tradition of the deceased or Administration of Estate Laws), a number of family members you have and intend to give these properties to (All children, both the ones known to all and those you had in secret, siblings, parents). I mean it’s your dying wish here, why are you still hiding anything?
You are to tell your lawyer about the customs and traditions that are practiced by your people (This is not so necessary, but majorly because it helps your lawyer give you premium advice).
The next stage is to tell your lawyer who and with who you want to have certain properties. Please, be decisive, accurate, and precise. Trust me, a good lawyer would know how to arrange these things in order.
Some Truths You Must Know
People who must be named in a will.
Executors: These are the people you list to carry out the instructions on the Will. People you trust and believe to do as you say without fear and favor. Preferably they should be younger than you in age, as it is normal for younger ones to outlive the older ones. Note, that those you want to benefit from the will, i.e those you want to inherit your property, can also be executors. So, a named beneficiary can also be one of the people you want listed to carry out the instructions of the Will.
Trustees: It is not compulsory for a Will to have trustees listed in it, but when the need arises, they serve a very good purpose. Trustees are individuals given legal responsibility to hold property in the best interest of someone else. He or she is not to use the property for his/or her benefit, but for the benefit of the “Beneficiaries” of the Will. In most cases, the properties are usually given to them to handle pending the happening of a particular situation. For example, if the beneficiaries are still too young to have possession of the properties, the Trustees can manage the properties, giving proper account to whomever, the deceased instructed them to, pending when the beneficiaries become of age. There is also the incident when a man wants particular proceeds from a property to be given for charitable purposes or given to members of the family not yet born, take, for instance, grandchildren, etc.
Beneficiaries: These are the people who you are bequeathing your estate (properties), in other words, they are to inherit your properties. If you didn’t know this before now, then here it is, their names must be stated accurately, and what you want to be given to them. You definitely do not want mistakes here. I mean, beneficiaries are the major purpose of any will. This part of the Will must be clearly stated, as this is where determines who gets what.
Witnesses: These are the individuals in whose presence you are to sign your Will. That is, they must watch you sign. Note: they do not have to know the content of the Will, nor do they have to know what they are signing in your Will. Their sole purpose is to watch you sign the Will. two or more individuals that are to watch you sign your Will. However, it is advisable that they know that what they are witnessing is your signing your Will; and also sign as witnesses to the fact that you wrote a Will. They must not be below the age of 18, and advisably should be younger than you are. Most importantly is that, under no circumstance should a named “Beneficiary” be made a Witness. A witness who is to benefit from a Will loses the property gifted to him by the deceased. This might damage the whole thing, as the law does not allow that. If something like that should happen, it would mean that the said “Witness” who is also a “Beneficiary” will be disinherited. I am sure you do not want that. You must also note that a spouse of a witness who benefits under a Will will also lose that property. So, never make the people who you have in mind as beneficiaries or their spouses also witness the Will. I know the question would be what if a said Beneficiary married a named Witness after the person witnessed the Will? The Law is that, the spouse “as at the time of witnessing the Will, not after”. Also note: there can be more than two witnesses but not less than two witnesses.
When your Will has been prepared, ensure that your Lawyer lodges it at the Probate Registry of the High Court of your State. Yes oh, the Original copies are kept at the High Court, not your lawyer’s office. A copy can be kept there, but the original one MUST be registered and lodged at the Probate Registry of the High Court, otherwise, nothing. Absolutely nothing.
So those Nollywood movies where you see a lawyer reading “Chief’s” Will in his house after his burial is, permit me to say, wrong. You see why I laughed earlier. Lawyers do not read out Wills, the Wills are read at the Probate Registry in the HIGH COURT by the Probate Registrar. It is usually sealed on the day it was lodged by your lawyers, and he is given a lodge number, that is the same number that will be used to identify the Wills years after you are gone. Copies of a Will can also be kept at the Bank of the Testator and the Testator. (I will explain how a Will is read after the demise of the deceased in another article)
Now, the power that Will yields are the fact that you dictate and everyone knows that what you said is what stands. This limits the number of divisions that can arise when you are gone. It also limits all that drama you see in movies. I used the word “LIMIT”, you need more than a good Will to keep your house together. It just gives a helping hand.
