
What is Estate Planning?
When most people hear the term “Estate,” they think of vast wealth and high-value assets. People rarely think of that small “shamba” upcountry or that
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When most people hear the term “Estate,” they think of vast wealth and high-value assets. People rarely think of that small “shamba” upcountry or that
In the unfortunate demise of an individual, there are various rights that accrue to different persons depending on the relationship between that person and the deceased. For example, wives and children of the deceased will be considered ‘automatic’ beneficiaries/heirs of the deceased and they will not need to prove their dependency on the deceased. This is contrasted to persons like parents of the deceased whose beneficiary status is not automatic, that is, they have to prove their dependency on the deceased immediately before his/her demise. Because of the ‘automatic’ status of the wife/wives and children of the deceased, it is usually assumed that their rights over the property of the deceased are superior to the rights of any other potential beneficiary.
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