Today's topic is a sad one: DEATH.

Death is a highly emotive discussion because it means someone we love has passed away. It is never easy.

However, death is a reality that none of us can run away from. As a lawyer, the most difficult thing to help clients understand is why they should plan for their death because it seems like they are wishing death on themselves.

Planning your wealth before you pass away is the most beneficial thing you can do for your family because it secures their future. The deep grief that comes with the death of a loved one is unavoidable, I understand that. However, the stress, frustration and anger that our loved ones feel when they are left with nothing when we die is optional and up to us.

Here are 5 ways you can plan your wealth and save your family from unnecessary pain :

1. Write a will - A will is a legal document we write declaring our wishes and intentions about how we want our property to be distributed when we die. The beauty of a will is its clarity on what property and what amount of it goes to whom once you die.
2. Create a revocable living trust- this kind of trust is an entity created by you to ensure that your property is held by another person( a trustee), for the benefit of others when you pass away. The advantage of a trust is that it has guidelines and the trustee cannot use the trust for personal gain. In addition to this, you can change or even cancel a revocable living trust if you wish.
3. Register your land jointly with your spouse - This means that when we die our jointly registered land immediately goes to the other joint owner. This is better than registering your property in your name alone.
4. Nominate beneficiaries for your accounts - something that many people do not know is that all banks, investment companies, SACCOs and insurance companies have a nomination form you can fill every time you open an account to deposit money. This nomination form is a declaration by you saying who you would want the money in that account to go to when you pass away.
5. Give a gift - In Kenya, this is known as a gift in contemplation of death. This kind of gift is given to another person to get once you pass away. There are conditions to this that are particular to Kenyan law that are important to know.

For all of these, PLEASE TALK TO YOUR LAWYER. Do not do it by yourself because they are all regulated by law and we want the process to be as smooth and effective as possible for you.

If you are interested in planning your wealth and secure your family's futures, you can book a consultation with us and we will calmly discuss with you the options you have.

Remember, the pain of losing a loved one is deep and out of anyone's control. The anguish of leaving our families without access to our resources when we die can be avoided; but only if we PLAN.