On Buying And Sharing Of Properties For Your Children
It is one thing to have a WILL but it is entirely a different thing to SHARE THE WILL without having an after effect to it which does not usually end well. Now the aim of today's article is to show you as a Father of this century THE ONE AND ONLY way to BUY AND SHARE properties for your children without causing any fight amongst them.
The issue of SHARING OF WILL is as old as creation itself. But it won't be a #Family #Vanity for me to state that it is not a MUST that every parents will leave a WILL for their children. This is because after giving you the basic training of life, it is expected that you should make efforts to be able to feed yourself and even give back to your parents in appreciation of their efforts. Based on this, you are therefore considered privileged if your parents has ADDITIONAL Properties to give you in the name of a WILL.
WHAT IS A WILL?
A WILL is a Legal Document in which an individual known as the Testator, declares how he or she would like his Assets to be shared when he or she dies. The individual that will receive any of the property of a Testator is called a “Beneficiary" or "Beneficiaries" when they are more than one.
WHEN YOU DON'T HAVE A WILL
If you die without a WILL, your children and family may end up spending additional time, money, and energy settling the issues that your death may have caused.
ON BUYING PROPERTIES
The common practice is that you either buy properties in your children's name as you give birth to them or in your own name. And later SHARE to your children. BUT today, I want to show you a new way to do it so you can truly REST IN PEACE.
1). Register a Business Name with the Corporate Affairs Commission (CAC) SOLELY for the purpose of buying properties. (This is different from the company you are using for your normal business). Let's call it ABC Enterprise.
2). Open a Corporate Account for ABC Enterprise at any bank of your choice.
3). Please always remember that ABC Enterprise is not doing any other thing EXCEPT to buy properties for your children. You are to transfer money into the Company Account anytime you want to buy something with it.
4). Then start using ABC Enterprise to buy anything Assets you desire. Including your personal cars and house
5). Then, set the Company's Shareholding Structure according to the number of children you have. (This can easily be updated in case you have a new child). And if for instance, you have 6 Children; you can have a Shareholding Structure that looks like this;
16% for Child 1,
16% for Child 2,
16% for Child 3,
16% for Child 4,
16% for Child 5,
16% for Child 6 &
04% for Wife.
(Just divide 100% according to the number of children that you have; then give any remainder to your wife - this she can later give to any of her children). The main idea is to have equal shares. All I need is for you to have a good Old Age and also TRULY REST IN PEACE.
6). Your Wife will be the CEO of the Company while you are the Non Executive Chairman. This is necessary because your signature would be needed in the Company's Bank Account.
BENEFITS OF BUYING PROPERTIES IN YOUR COMPANY NAME
Amongst the many benefits of doing this, I will only highlight three;
1). While you are alive, you may finally decide to buy one or two properties in your personal name and use it to write a WILL; so that when you die, then all your greedy relatives can gather to fight on sharing those ones.
2). Meanwhile, only Directors of ABC Enterprise (who are your Wife and Children) can get a SHARE of the Company's Properties.
3). Again, seeing that ABC Enterprise was registered with your Wife and Children's name, anybody fighting you CANNOT lay hold on any of the Company's Properties EXCEPT for the few that you bought in your personal name.
4). Lastly, it is easier to add a new director to your company or make any changes THAN going through all the Legal Documentation processes of changing a Normal WILL.
5). With this arrangement, you have the Corporate Affairs Commission (CAC) as the ONLY Middle Man and not any Lawyer who may or may not be biased in the future.
HOW YOUR CHILDREN WILL SHARE THE PROPERTIES AMONGST THEMSELVES
I hope you remember that the main aim of this is to have a trouble free SHARING OF PROPERTIES when you are alive or gone. With that in mind, two things can happen;
1). Since all your Children has equal Shares in ABC Enterprise, they will first VALUE all the Company's Properties and decide to share it according to the Value of each OR
2). They will sale any Property that they want and Share the money equally amongst themselves. In fact, any of them who has money can buy the Property in question and they will still share the money.
3). They will continue to sale off all the Properties of ABC Enterprise till it runs into Bankruptcy and die a natural death.
Thank you so much for reading up to this point. I can authoritatively assure you that this works and it shall work for your Family. All I want is for you to TRULY REST IN PEACE after all your labour.
Please ensure to keep the below documents in a Fireproof Safe in your house or with a Bank or with a Lawyer;
1). CAC Registration Certificate and the Shareholding Structure of ABC Enterprise
2). Remember to keep the Original Copies of any Property you buy in the Fireproof Safe
3). Don't forget to tell your Wife or your Next of Kin about where the Documents are and also the passkey of the Fireproof Safe in the House.
Lastly, I want to believe that you have understood this document. And you can get in touch with me if you need any further clarifications.
My Prayer for you is that since you are Living and Working in PEACE, you must truly REST IN PEACE at the right time.
©2021. THE FAMILY BY YOU
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