PROBATE LAWS IN NIGERIA; ITS BENEFITS TO WIDOWS IN NIGERIA ON BANK ACCOUNTS AND PROPERTIES
Probate Laws in Nigeria and its Benefits to Widows in Nigeria is another dossier from RTWI aimed at fighting the THE PLIGHT OF WIDOWHOOD IN NIGERIA.
We want to ensure that women in general and widows in particular are adequately educated on the topic.
RTWI wants the plight of widowhood to be eradicated in Nigeria.
There is only one way this can happen which is getting women to be filled with the proper knowledge of Probate Laws in Nigeria.
The probate-Registry is the custodian of these Probate Laws in Nigeria.
A view of the topic PROBATE REGISTRY IN NIGERIA; SEE HOW BEST TO APPROACH IT will help you understand the Probate Laws in Nigeria as we go on.
Before we go on, a definition of Probate Laws in Nigeria will be education and helpful.
PROBATE LAWS IN NIGERIA: – These are the laws of the Probate-Registry-in-Nigeria that governs the processes and procedure of all probate related issues in Nigeria. These Probate Laws in Nigeria are interpreted in a Probate Court where a judge sees to the proceedings.
Women must understand how How Probate Laws in Nigeria Benefits both Widows and the Widowhood system in Nigeria.
The aforementioned is the one of the basic ways the plight of widowhood can be corrected in Nigeria.
Our major areas of highlights include: –
- The Probate Registry in Nigeria.
- The Probate Court in Nigeria.
- The Probate Laws in Nigeria on Testate Situations.
- Probate Laws in Nigeria on Intestate Situations
- Probate Laws in Nigeria on a deceased customers account.
PROBATE REGISTRY IN NIGERIA
In RTWI’s words, Probate Registry in Nigeria is the house of Estate administration on all dead persons’ estates.
The probate Registry in Nigeria serves its purpose whether the dead person executed a will or not. Where the dead person executed a will, he will be called an executor and the situation will be considered as Testate Situation (to be discussed later).
Where the executor died without a will then the situation will be termed Intestate Situation (to be discussed later).
Probate-Registry-in-Nigeria is very instrumental to the Probate Laws in Nigeria because the former is the edifice, the establishment and the agency that sees to this law.
Probate Registry in Nigeria can be seen in a way as an entity that also serves as the custodian of the Probate Laws in Nigeria.
For more details on Probate Registry, please read PROBATE REGISTRY IN NIGERIA; SEE HOW BEST TO APPROACH IT
PROBATE COURT IN NIGERIA
This is a legal complex and structure with competent jurisdiction to tried for and against any case presented to Probate Registry in Nigeria.
This legal complex and structure with competent jurisdiction try this cases using the Probate Laws in Nigeria.
Usually the parties involved are advised to get the services of lawyers with good knowledge of the Probate laws in Nigeria.
Such cases are deliberated before the Presiding judge of the court of which victory depends on the following:
- The facts and figures on ground proven beyond reasonable doubt.
- The competence of your Lawyer
RTWI recommends the following Law Firm for such services:
Please where you cannot get the services of this above mentioned law firms due to proximity or lack of the required finances, please reach us through this blog or through our contacts on our home page www.respectthewomaninitiatives.com.
RTWI is specifically opened for your type of persons.
PROBATE LAWS IN NIGERIA IN A TESTATE SITUATION
Probate Laws in Nigeria in a Testate Situation simple explains the application of the probate Laws of Nigeria in a situation where someone died living a will.
As previously explained, the execution of a will is done during a man’s life time.
A will is a written testament that contains a man’s (otherwise known as the executor) applicable wish at his demise.
The Probate Laws in Nigeria in a Testate Situations goes this way:
- The executor executes a written will while he is still alive either by himself or with his Lawyer. RTWI advises the use of the services of a Lawyer because they are trained in these Probate Laws in Nigeria. Please refer to our recommended law firms above.
- After the writing of the will, the will be submitted to the Probate Registry in Nigeria by the Executor,Executor’s Lawyer or Both.
- The Executor,Executor’s Lawyer or Both will be asked to pay a will deposit fee.
- A receipt will be issued on payment of such fee.
- This receipt bears reference numbers on it too.
- When the executor dies, the Executor’s family or the Executor’s Lawyer will come with the receipt.
- Using the reference, the will call up.
- Certain fees will be demanded from the Executor’s family or the Executor’s Lawyer which is a fee for the will to be called into action.
- Once this fee is paid, the will be enforced.
- The enforcement of the will does not take mare than 2 months except where the is need to do estate evaluation, where there is family issues and contention over the will and the disposition of the Presiding Judge.
With this the Probate Law in Nigeria on a Testate Situation is fully implemented.
PROBATE LAWS IN NIGERIA IN AN INTESTATE SITUATION
Probate Laws in Nigeria on an Intestate situation defines the application of probate laws of Nigeria where someone died without a will.
This is usually a delicate situation because families often disagree on on it.
Due to the intricate nature of this situation, Probate Laws in Nigeria are applied on this follows:
- When Some one dies without a will, the Next of Kin is usually called upon.
- The calling up of the Next of Kin is not for him/her to take over the person’s estate but for him to provide basic information on the deceased opinion concerning his estate when he/she was alive.
- It is believed that the Next of Kin is the deceased closest relative and should be able to know the deceased opinion on his estate.
- NOTE BEFORE: – The Next of Kin does not hold any legal backing when it comes to the ownership of an the Estate of a deceased person. However the Next of Kin can inherit an Estate of a deceased person if and only if the existing Will supports that.
- With the confirmation of the Next of Kin or without it, the families of the deceased will start by approaching the Local Government to get proof of death of the deceased. In this case a Death Certificate can serve. The Local Government usually place this on notice to the general public for 21 days. Where this notice received no Objection from the members of the public, the Local Government will go ahead and issue the Death Certificate.
- The families of the deceased will take the Death Certificate and other things like Obituary Posters, List of Expenses incurred during burial, Receipts of such expenses and Proof of any outstanding indebtedness to probate Registry.
- Probate will demand for the list of the man’s estate which include Lands, Buildings, Shares, Bank Accounts which the family Must Provide.
- The Probate Registry will Evaluate the Landed properties and take 10% on it and on all other things provided by the family.
- These days, this 10% is take by Cash upfront at the probate Registry in Nigeria.
- A letter of Administration is then issued to the beneficiaries of the estate.
- Probate Registry prefers to issue Letter of Administration in the names of the living Spouse and the children.
- This is to ensure that fraudulent claims are defeated.
- With these letters-of-Administration, the beneficiary can now run the estate as they like.
PROBATE LAWS IN NIGERIA IN ON DECEASED CUSTOMERS ACCOUNTS
Probate Laws in Nigeria on on a deceased customers accounts are the same with Probate Laws in Nigeria on an Intestate and Probate Laws in Nigeria on testate situations with few exceptions.
- Where the deceased maintained a certain mandate in the Bank that allows any the inclusion of a third party, such mandate stands.
- Such Mandate can only be vacated by the existence of a will or a court order.
- Where a deceased died testate (With a Will) on the issues that concerns the deceased Bank accounts, The processes on testate situation will be followed.
- Where a deceased person died intestate (Without a Will) on the issues that concerns the deceased Bank accounts, The processes on intestate situation will be followed except that: –
- When the Letter of Administration is issued, it will be taken to the Bank for implementation.
- Banks like Polaris Bank Limited pay a next of Kin any amount ranging from N100.000.00 and below across the counter.
- This above is not a Probate law in Nigeria but rather it is Polaris Bank Limited’s show of solidarity and Magnanimity of the deceased family. Polaris Bank Limited believes that if the Family of the deceased is subjected to that requirements of Probate Laws in Nigeria for account balance of N100,000.00 or less, they will take home only a reduced sum.
- For balances above N100,000.00 the family of the deceased person will be asked to get all KYC documents (KYC – Know Your Customer).
- These documents include Means of Identification (Driver’s Licence, International Passport, Voters Card and National ID Card. Biometric Verification Numbers – BVN has now been included for Money Transfer Transactions)
- The customer’s utility bill is also needed (EEDC Bill, Voter’s card and National ID Card as the case may be.
- Finally an Estate account with account will be opened. Where the deceased person’s name is Okolo Yusuf Yetunde, the account name will bear: ESTATE OF OKOLO YUSUF YETUNDE.
- The persons whose name appear on the Letter of Administration must all be maintained as a signatory to the above account but their account signature mandate is solely their decision.
- With this account fully opened, Money will be transferred from the Deceased Personal Account to the Estate Account after which the deceased account will be closed.
- It is advised that the family must ensure that all the benefits to the deceased have been paid into the account as a closure of such accounts will prevent further inflows.
- Where an inflow is expected, the beneficiaries will advise the Bank immediately. Such Prior notice will stop the Bank from Closing the account.
This is so far the Probate Laws in Nigeria on deceased Customers account.
Letter of Administration from Ikeja Probate Registry
CONFIRMATION OF LETTER OF ADMINISTRATION:
Please note that Letter of Administration is always confirmed by the Bank before it can be admitted for Bank’s use.
The Bank often sent the Letter of Administration to the issuing Probate Registry in Nigeria for them to confirm if the Letter of Administration is from them.
The Bank confirms it by placing Probate Registry confirmation stamp on it. The stamp must be signed on by an authorized state of the probate Registry. Confirmation of Letter of Administration is not part of the probate Laws in Nigeria.
This is part of due diligence observed by banks to avoid fraudulent processes.
Nigerian Banks prefer conducting a Probate Search on the Letter of Administration.
This is mandatory process where a lawyer is contacted to verify the originality of the Letter of Administration from/Death of the Estate Owner at the Probate Registry in Nigeria.
If the Probate Search is successful, the Lawyer will write with the Letter Head of his Law firm to the Bank.
The Lawyer will declare the status of his/her inquiry boldly. The Status will either read Confirmed or Not Confirmed.
Sample of Death Certificate