HOW TO SET UP A TRUST FUND IN NIGERIA
Trust funds are gaining popularity as more individuals seek effective strategies for managing and safeguarding their wealth. These financial structures provide long-term security for both the settlor and their beneficiaries. While the concept may seem complex, establishing a trust fund is a straightforward process when broken into clear steps. This guide explores how to create […]
HOW TO LEGALLY DIVIDE INHERITED PROPERTY IN NIGERIA
Inheritance disputes are not new to Nigerians; they largely occur whenever there is inadequate legal knowledge concerning the distribution of inheritance. It may be a piece of land, house, or other kinds of valued property,the process of sharing it can be hectic, particularly when numerous heirs are involved. This article provides a critical analysis of […]
HIERARCHY OF PERSONS ELIGIBLE FOR GRANT OF LETTERS OF ADMINISTRATION
The administration of the estate of a deceased person depends on whether they died with or without a will. Testacy describes a scenario where one dies leaving behind a valid will specifying how they wish their estate to be run and distributed. Conversely, intestacy refers to the state of an individual dying without a valid […]
STEPS TO OBTAIN A LETTER OF ADMINISTRATON IN NIGERIA
The process of obtaining a letter of administration in Nigeria involves legally authorizing relatives, dependents, or other interested parties to manage the assets of a person who died intestate (without a will). Additionally, if a deceased person left a will but did not name executors, or if the named executors are unavailable or unwilling to […]
PROCEDURE FOR WRITING A WILL IN NIGERIA
When writing a will in Nigeria, there are important legal requirements to consider regarding how a deceased person’s estate will be handled. The person making the will, known as the testator, can use the document to control their assets after death, protect loved ones’ interests, express final wishes, prevent disputes between heirs, and avoid issues […]