REASONS NEXT OF KIN DOES NOT HAVE ACCESS TO MONEY AFTER DEATH

PHOTO CREDIT - THE ORIGINAL OWNER

 SO "NEXT OF KIN" IS of no USE IN THE BANK after the death of their loved ones.

Next of kin refers to a person's closet living relatives . Individuals who count as next of kin include those with a blood relation, such as children, or those with a legal standing, such as spouses or adopted children.

The bank will work with what the will says concerning who will now have access to the account. But when there's no will, it will work with the letter of administration. So to ensure that the wealth is moved to the next of kin, that account holder must have a will that states that the money should be transferred after death. 

THE REAL THING THAT IS NEEDED IN THE BANK IS STATED BELOW

IF YOU DIE TODAY, YOUR "NEXT OF KIN" WILL NOT HAVE ANY ACCESS TO THE MONEY IN YOUR ACCOUNT!!!

So many Nigerians think that their next of kin is the automatic heir to their accounts. But the truth is that if your next of kin is not a signatory to your account, and you don't have a written will to determine that person's legitimacy, the person will not have access to that money at all. Your bank will have to go through a process called A LEGAL PROBATE.

This Probate Period Helps Them Determine Who Gets The MONEY In Your Account. This Is A Very Lengthy And Expensive Process. Even After The Whole Process Is DONE, Your FAMILY Will Have To FORFEIT Some Very REASONABLE Amount Of The MONEY For LEGAL FEES.

Even After The Whole Process Is DONE, Your FAMILY Will Have To FORFEIT Some Very REASONABLE Amount Of The MONEY For LEGAL FEES.

But If You Want To Avoid This, Simply Request For Your Bank To Give You Something Called A POD Form. POD Stands For "PAYABLE ON DEATH". The Name Of The Person You Fill In That POD Form Will Determine Who Will Get Your MONEY. All The Person Needs To Bring Is A Death Certificate To Get That MONEY Out.

With A POD (PAYABLE ON DEATH ) Form, You Will Save Your FAMILY the Stress of Going through All

Information is key.