I am because you are - The Ubuntu philosophy applied

The end of the month.Bills to pay.Food to put on the table.A life to live.You have set goals.If not, have an urgent meeting with yourself. Seek professional advice if you have to. Each goal has a price tag. Goals are short,medium and long term with sometimes progressively higher price tags.

How do you save in this season? Some belt tightening is necessary. Spend prudently. Survey the market for lower prices. Negotiate with sellers. Join other buyers and buy in bulk. Start and grow an emergency fund even if you had one in the past.

I am in the Savings, Investment and Risk management advisory space. Like you, I am called upon frequently to contribute to those in financial distress. It is part of our social responsibility. It is the right thing to do. You are your brother's keeper.I have a dream - that one day fewer and fewer of us will be in financial distress.

My mission is to educate whoever has a teachable spirit. I will walk with those who have ears and eyes. The journey with me must start. You need a couple of thousands to save for your goals, to overcome the hurdles in your life's path. We are all on our own path. Let yours be a well planned path. You have a listening ear in me.

I am a Coach, Mentor and Financial Advisor.Do you want to feel better? Do you want to help me live out my purpose as an educator? Reach out to me on 0720297433. We can do this. Join the enlightened, on the road to financial stability.Read this testimonial from somebody I am working with, who is on the path to financial and social inclusion ....https://bit.ly/307cXhq

With all my respect, for His greater glory.

Testimonial - Coaching

Dr Melvin D'lima,

Thank you for enlightening me on  many things which I wouldn't have paid attention to as I couldn't unravel what was going on  in my life. I thank you for being open and agreeing to walk this journey with me. I feel so light..a shift in my being.

LK

Kiambu 

25 09 2020

The ninth month and pregnant with hope

The hustle and bustle of city traffic is a sign of heightened economic activity. We are told that at a population level, this CoVid 19 epidemic has peaked and the curve is flattening. The risk for high risk, sub-sections of the population, still exists. Wear a mask in public and wash your hands. It is raining but Nairobi Water Supply Company has chosen to ration the commodity. Store it whenever it is flowing in your taps.

Functional and dysfunctional families are down to basic needs. Fault lines have appeared between some spouses due to the stressful times. Domestic violence and other social ills directed largely at women and children are on the increase.

In the hospitality business, they are down. Some are not out. They have re-invented themselves despite strict new public health regulations. Business though, is down. New risks to be managed have emerged. Income streams have to be increased. The temptation to throw in the towel and give up is very real. Does this sound very abstract?

Courts of law are closed, in the main. Lawyers who specialized in litigation are not busy. Kenyans love land, having been dispossessed of the same, in colonial and post-colonial times. Land is now changing hands. Ask any Lawyer who deals with conveyancing (a.k.a the legal side of buying and selling land).It is a buyers market out there.

Elsewhere Kenya Airways has a special offer for Doctors on their local flights. I wish more physicians take could take advantage of this offer. Doctors are not a

financially happy lot. Many are unemployed, many others run helter skelter chasing part time jobs without promises of a Pension plan. There are outliers at Nairobi Hospital but they

are in the news for all the wrong reasons.

My passion is to teach, to mentor, to coach others to achieve their purpose. To influence folks to earn an honest income by adding value while exercising their passion. I could lead you to a place where you save, borrow, invest and manage risk responsibly. In other words create and manage wealth. I am in my power zone when I am empowering others to be financially stable. Do you need to be empowered, financially? Reach out to me on 0720297433 for a no obligation consultation. You will not be disappointed

WHERE THERE IS A WILL THERE IS A WAY

 

Wills and the protection of your legacy

Sally Mahihu
Mahihu Bowyer Advocates
Lavington,Nairobi,Kenya

August 2020

1. What is a Will?

A Will is a document written and left by a deceased person, expressing his wishes after his death such as: -

1. How and where he/she is to be buried? 

2. The Guardianship of his/her children especially those under 18

3. How his/her properties and assets should be distributed and to whom?( a deceased person assets and properties are known an Estate)

4. Terms and conditions regarding certain  assets and properties

5. Creating a trust especially for minor children

2. How to ensure that your Will is valid in case it’s challenged?

• Your wishes, terms, and conditions must be very clear without any ambiguities

• You must sign it in the presence of two adult witnesses. They should not be beneficiaries; they should write their full names, postal addresses, and against their signatures. 

• You must date your Will preferably in your own handwriting

• You should specify your assets and properties and give them proper descriptions. 

•  You should be very specific regarding your beneficiaries named in your Will.

• Avoid disinheriting certain people like your wife and children. 

• If you forget something in your Will and you remember it later on, then you can do a document called a Codicil. 

3. Who are the Beneficiaries in your Will?

• Your wife/husband

• Your biological children

• Any step children or adopted children

• Any persons for whom you have taken responsibility for several years who have now become your dependence 

• Other persons may include your parents, siblings, workers, friends, etc.

• You are not under any legal obligation to bequeath anything to your divorced wife or husband. (give Example of John’s Estate) 

• You should stipulate what will happen to the share you have given someone if that person predeceases. 

• You should also stipulate that any debts liabilities, hospital bills, funeral expenses, legal expenses and any other expense required to administer your estate etc. should be paid out of your estate

• You should name your chosen executors and administrators in your Will. It is okay if they are your beneficiaries suffice that they are people that you know who will be diligent in fulfilling your wishes in fairness and justice

4. Why is a Will important?

• When you leave a Will, it is said that you dead Testate but if you die without leaving a Will it is said that you dead Intestate 

• If you do not leave a Will your Estate will be governed by the law of succession and it may be distributed in a manner that you would not have wanted 

• The absence of a Will leads people to purport to interpret your wishes and since each person will be motivated by personal interest then it means that the various interpretations will inevitable conflict 

• Without a Will your beneficiaries may not know where what assets and properties you owned and in which case dishonest people like lawyers or bankers will be left enjoying your properties

• A Will enables you to reveal all your assets and properties and their whereabouts 

• When your wishes are clearly written down it is often difficult to dispute them as opposed to when you level verbal wishes and instructions to one or two people which causes those who were not present to dispute what you might have said

• It is wise to indicate what will happen if any of the executers pass away or are not able or are unwilling by saying that the remaining ones will act on their own or they must appoint others

• Where some of your beneficiaries are under 18 years old then a Trust automatically arises within your Will for the protection of those minor beneficiaries  

5. Who should keep your Will?

• Your Will should be kept with your trusted Lawyer in safe custody or by any other trusted person

6. When should your Will be read?

• If your Will contains instructions as to how you should be buried then you should stipulate that it be read before your burial

• Avoid instructing that you be buried somewhere that you know will cause legal problems

• All your beneficiary named in your Will should all be present during the reading of your Will if possible

7. How should your Will be enforced?

• This is the work of your lawyers. Because it is a legal process that must go through the court system. Where your Estate value is below a certain amount it does not need to go through the court process it will go through the public trustee

• Your net Estate value is calculated by taking the value of all your assets and properties and deducting all your liabilities and debts. 

8. How to Resolve disputes arising among your family and beneficiaries even where there is a Will

• Where there is a Will there is a way, but where there is a clear Valid Will then there is a better way

• Leaving a Will is only 50% of the solution, because even with a Will disputes do arise.

• Where some of your beneficiaries feel short changed

• Where others may feel you were manipulated or where the beneficiaries feels that their executers or trustees are not doing the right thing 

• This disputes are best resolved through ADR- alternative Dispute Resolution instead of the court system such as family meetings where you create a deed of family arrangement or failing which then a family meetings with a few non family members to assist in the discussions failing which a mediation with a trusted person to mediate either a pastor etc. failing which then a formal mediation with a court certified mediator appointed by the court. This means that you will have to file a case in court which the judge will then refer to mediation. 

9. Benefits of ADR

• Privacy 

• Family relationships and unity are preserved 

• Reduced cost because court battles are expensive 

• The integrity of the deceased is preserved and he/she is honoured