Guide
Estate Planning in Nigeria
Draft. This page hasn't been approved by our legal reviewers yet and may change.
A brief overview of why and how to protect your legacy.
Why you need a will
If you pass away without a will (intestate), your assets will be distributed according to the Administration of Estates Law of your state, or potentially customary law. This often results in long delays, family disputes, and outcomes you would not have chosen. A will ensures YOU decide who gets what.
Executors
An executor is the person (or institution) you appoint to carry out the instructions in your will. They will gather your assets, pay off your debts, and distribute the remainder to your beneficiaries. Choose someone trustworthy, organised, and willing to take on the responsibility.
Guardians
If you have children under 18, naming a guardian is arguably the most important part of your will. This determines who will raise them if both parents pass away.
Pensions and Insurance
In Nigeria, your RSA (Retirement Savings Account) and life insurance policies typically pass directly to the named beneficiaries on those specific accounts, bypassing your will. It is crucial to ensure the beneficiaries named with your PFA (Pension Fund Administrator) align with your overall estate plan.