Leadway Capital and Trust employed the use of technology with iWIll to ensure every individual can write a Will to protect their assets and loved ones in the event of any uncertainty.

The product was developed to solve some of the common problems that hinder individuals from writing a Will. Such problems include the long and tiring process involved in Will writing, the lack of understanding of the process and need, the perceived financial cost they may incur amongst many others.

The product caters to everyone above the age of 18 and with an asset to his/her name e.g. a retirement savings account, a bank account, jewelry, car, etc.

Morenike Akinwande-Tomori ( Head, Private Trusts, Leadway Capital and Trusts ltd)

Head Private Trusts, Leadway Capital and Trusts, Morenike Akinwande-Tomori stated that iWill is more than just a product to the Leadway Capital and Trusts team, but instead a movement focused on empowering individuals to protect the future of their family and loved ones. Also Speaking at the event, was Mr. Tunde Hassan Odukale a Director of Leadway Capital & Trusts, who also mentioned the importance of writing a Will before the inevitable happens. He went on to state how iWill will make writing Wills easier and more convenient for individuals and families.

Mr. Tunde Hassan Odukale (Director Leadway Capital and trusts ltd).

Mr Ayo Wuraola (Managing Director, Leadway Capital and Trusts ltd).

Managing Director, Leadway Capital and Trusts Ltd, Mr. Ayo Wurola, said he was convinced that iWill will revolutionize how estate planning is done in Nigeria and all around the world. He also mentioned that Leadway Capital and Trusts is committed to ensuring that they continue to innovate products that will be in the best interest of Nigerians.

iWill is here to make it simpler, easier and more straight forward for you to protect the future of your family and loved ones. Don’t wait till it’s too late, protecting your future is only a click away and it takes 15 minutes or less.

Visit  wills.leadwaycapital.com to get started today.

From the Left to Right; Mr. Muftau Oyegunle (Director Leadway Capital & Trusts ltd), Mr. Tunde Hassan Odukale (director Leadway Capital and trusts ltd), Morenike Akinwande-Tomori (Head, Private Trusts, Leadway Capital and Trusts ltd) , Mrs Aderonke Adedeji (Managing Director Leadway Pensure PFA ltd), Mrs. Fehintola Obatusin (director, Leadway Capital and trusts ltd), Mr Ayo Wuraola (Managing Director, Leadway Capital and trusts ltd) and Mr. Olusakin Labeodan (Executive director Leadway Pensure PFA ltd).

The Leadway Capital and Trusts Team at the iWill product launch by Leadway Capital and Trusts.

The post EVERYTHING YOU NEED TO KNOW ABOUT iWill appeared first on LEADWAY TRUSTEES.

Estate Planning is a process that involves individuals and in some cases, charitable organisations of your choice.
The understanding of estate administration in Nigeria has been broken down below so you can guide yourself and be sure to know what to do when the need arises.

1. Assess your need for an Estate Plan

When considering estate planning, the first step is to determine if you need an Estate Plan. This can be done by assessing your current financial condition and financial status, which will involve calculating your net worth. Depending on your financial status, we believe calculating your net worth should be pretty easy though you might need the help of a professional.

2. Find a qualified Estate Planner

As part of your estate Plan, you will need to decide who should be in charge of carrying out your wishes. Estate planning itself is a complicated process that requires professional guidance. This is because the legal implications of one wrong word or paragraph or one missing signature can be very costly.

You will need help from a competent professional, preferably an Estate Planning/Trust Company with experience and capability, who will take you through all of the choices you need to make in creating a good Estate Plan.

Selecting the right person or company is almost as important as deciding who gets what and when they get it, that is why at Leadway Capital and Trusts Limited, you can count on us to always provide you with the best services.

3. Create a Foundational Estate Plan

The Estate Planner of your choice should help you create a foundational Estate Plan.
A foundational Estate Plan involves a quick calculation of your net worth by adding up rough estimates of the values of all of your assets – including bank and investment accounts, personal property (jewelry, collectibles, cars, boats), retirement plans, death benefit of life insurance, business interests, monies owed to you, oil and mineral rights, and real estate – and then subtracting from this total all of your liabilities – including credit card debt, car and other personal loans, and mortgages.

The foundational plan is all about protecting you and your loved ones from unnecessary expense and delay. It also means keeping control of your assets and rights for as long as possible and naming those who will be responsible for caring for you in times of need.

4. Assess your need for an advanced plan

When you have created and put in place a foundational Estate Plan, the next step will be to determine if you need an advanced Estate Plan. An advanced Estate Plan primarily focuses on reducing transfer taxes and income taxes.
Whether you implement an advanced Estate Planning or not, you should explore all your options with your Trust Company and then make your decision based on what you believe will work not only for you but also for your family.

5. Determine if you need a Will or a Trust

Once you have contacted a competent Estate Planning professional, the next step is for you to determine if you require a Will or a Trust.

With the help of your Estate Planning professional, you should be able to weigh the pros and cons of your decisions.

6. If you are opting for a Trust, Fund your Trust

If you have gotten this far, and have decided to use a Trust rather than a Will, you will need to get your assets titled into the name of your Trust and update the beneficiaries of your life insurance policies and retirement accounts to align with the provisions of your Trust.

If you do not do this, then all the hard work that you have put into the first five processes will amount to nothing. Funding your account should not take you eternity. We recommend a minimum of eight weeks and a maximum of six months for you to fund your Trust.

7. Review and update your Estate Plan

This is because things change daily, completing steps one to six does not imply that you have finished your Estate Plan. In effect, the Estate Plan that you have created today will only be effective for the now.

8. If you are opting for a Will, Which assets are you bequeathing?

When transferring certain types of assets, you may need to answer some questions like:
If you own a business, should your shares be passed only to those family members who are active in the business? Should you compensate the others with assets of comparable value? If you own rental properties, should all beneficiaries receive them? When and how should you transfer wealth?

Three factors will naturally determine when and how your beneficiaries should receive your asset. These are:
• The age and maturity of the beneficiaries. You must also give only what you own
• The size of your estate versus your need for cash flow during your lifetime.
• The tax implications

9. Transferring Property After Death

With a well-drafted Estate Plan, assets such as shares, real estate and business interests will be transferred by your Executor and Trustee according to the terms of your Will and Living Trust.

10. Not believing the myth that Estate Planning is only for the wealthy

Stop assuming that Estate Planning is only for the wealthy. Anyone who has asset(s) and is concerned about how the asset(s) will end up when he becomes incapable or when he is no longer alive needs an Estate Plan. If you do a proper analysis of your financial status, you will be surprised that your Estate is larger than you had in mind.

At the end, estate management is for both the young and old and should be taken seriously as it determines ones future and also it determines the way passed down assets will be treated by the trustee.

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