Next of Kin vs. Beneficiary: Their Difference in Estate Planning
Next of Kin vs. Beneficiary; what’s the difference? Two essential terms in the world of estate planning are “next of kin” and “beneficiary.” While they are often used interchangeably, they play distinct roles in the legal and financial landscape. In this blog post, we will clarify the meaning of these terms, explore their differences, and […]
How Michael Jackson Saved his Family With An Estate Plan
According to reports, Michael Jackson left 40% of his estate in a Trust to his three children: Prince Michael (12 years old, Paris (11 years old), and Prince Michael II (7 years old). He left another 40% of his estate to Katherine, his mother; and the remaining 20%? He dedicated to various children’s charity organizations. […]
The Importance of Estate Planning: Lessons from Chadwick Boseman’s Legacy
On August 28, 2020, the world mourned the loss of the talented actor Chadwick Boseman, best known for his iconic portrayal of “Black Panther.” As fans celebrated his remarkable talent, it was revealed that Boseman had passed away without a will, a situation known as dying “intestate.” This unfortunate circumstance highlights the critical need for […]
Ask Shade: Help! My Late Father’s Brother is About to Sell His Properties
Dear Shade, My name is Kamsi, and I am an 18-year-old undergrad. We lost Dad six months ago and my uncles, Dad’s brothers, who used to be nice to us changed overnight. I still remember them issuing us a 3-week ultimatum to vacate our house so they could put it up for sale. My own […]
Don’t ask me to trust him!
Cynthia looked at the wall clock for the umpteenth time, willing time to fly. Barely 15 minutes into the one-hour counselling session, she was exasperated already. Much as she loved her job as a marriage/relationship counsellor, there were those days and those couples capable of making her rethink her career choice. The Gregorys were on […]
Ask Shade About Trusts: Our Son Doesn’t Want to Continue the Family Business
Hello Shade, I need your help. My wife and I have worked hard building our business with hopes that our son would one day join the business and eventually own it when we are retired. We sent him to a business school abroad only for him to return with a photography degree. He is our […]
Ask Shade About Trusts: Does My Husband Have to Know?
Hi Shade, My name is Gloria, I got married 5 years ago at 35. Before the wedding, I already built a house at Mowe, a block of 6 flats, and I have other undeveloped property that I didn’t tell my husband about (so as not to intimidate or repel him). My plan is to gift […]
Ask Shade- Mrs. My Son is Irresponsible
Dear Shade, My husband and I have only one son who has refused to do anything serious with his life, because he assumes all of our wealth will come to him and there is no need for him to work. Although we intend for him to inherit all that we have, I want him to […]
What does ‘Next of Kin’ mean?
You most likely do not need to think about it anymore, you already know whose name to write every time you are required to name your Next of Kin. But have you ever thought about it? When you name a person Next of Kin, how much authority are you giving to that person, what should […]
