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Nairaland Forum / Nairaland / General / Why Next Of Kin" Is Useless In The Bank. (334 Views)
The Meaning Of "Next Of Kin / The Legal Implication Of The Term Next Of Kin / One Half Of Your Kin Is Being An Ass On Ylilauta (2) (3) (4)
Why Next Of Kin" Is Useless In The Bank. by tonye33(m): 4:34pm On Jul 22, 2023 |
SO "NEXT OF KIN" IS USELESS IN THE BANK. THE REAL THING NEEDED IN THE BANK IS 👇👇 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 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. 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 Form, You Will Save Your FAMILY The Stress Of Going Through All That Lengthy Legal Process And Even Losing Some MONEY To The Law. I Just Thought, I Should Let You Have Record Of This Important Information 1 Like
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Re: Why Next Of Kin" Is Useless In The Bank. by tonye33(m): 4:34pm On Jul 22, 2023 |
Re: Why Next Of Kin" Is Useless In The Bank. by Jogs1900: 4:44pm On Jul 22, 2023 |
Nothing called POD form in the bank. |
Re: Why Next Of Kin" Is Useless In The Bank. by Xammie001(m): 4:45pm On Jul 22, 2023 |
THANKS |
Re: Why Next Of Kin" Is Useless In The Bank. by Rhozabeth(m): 4:50pm On Jul 22, 2023 |
Jogs1900:Pls enlighten us if u are a banker. May be the form is not called POD but u can educate us on what it is called. |
Re: Why Next Of Kin" Is Useless In The Bank. by Jogs1900: 4:53pm On Jul 22, 2023 |
Rhozabeth:The bank only accepts letter of administration which you can process from any probate registry in any state. |
Re: Why Next Of Kin" Is Useless In The Bank. by Rhozabeth(m): 5:04pm On Jul 22, 2023 |
Jogs1900:Oh ok, thanks for the update. 1 Like |
Re: Why Next Of Kin" Is Useless In The Bank. by rogerman: 5:17pm On Jul 22, 2023 |
Oka |
Re: Why Next Of Kin" Is Useless In The Bank. by rogerman: 5:18pm On Jul 22, 2023 |
Jogs1900:Please throw more light |
Re: Why Next Of Kin" Is Useless In The Bank. by Jogs1900: 5:52pm On Jul 22, 2023 |
rogerman:To have access to a deceased bank account, it's either you present a letter of administration gotten from the state high court or the family hands it over to the state administrator(They are being processed at the state where the deceased died.)--These documents are superior to a deceased WILL Lawyers can explain better. |
Re: Why Next Of Kin" Is Useless In The Bank. by otomatic(m): 7:32pm On Jul 22, 2023 |
POD does not exist in Nigerian law |
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