₦airaland Forum

Estate Fees in most state of Nigeria is usually 10% of the value of a deceased assets.
It is paid to the Probate Registry before a Letter of Administration or Probate of a Will is granted.
Once a person dies, his survivors can only access his wealth particularly money in the bank after they have paid the 10% of that sum to the government. This is excluding the cost of advertising and other expenses to be incured in processing the Letters of Administration.

To avoid paying this sum or reduce the amount payable, the following is advised.

1. Form a Company and use a corporate account : A company in law is different from its owners. Money in a corporate account cannot be taxed by the probate registrer as it doesn't form part of the deceased estate. The other members of the family should be made directors of the company so as to be able to manage the account at the end of the main owner.

2. Joint account: A joint account is not amenable to probate. Such account with either to sign mandate survives a party to the account.

3. Under declare the estate: With the help of the Bank staff, the money in the bank can be under declared to reduce the amount of duty payable.

4. Leaving out some account. It is not mandatory that all the account of the deceased is declared. Those with small amount maybe declared while those with big amount is left out.

Lawyers in the house can also help out with h other options. The way the Probate Registry particularly in Lagos goes about sharing dead people's money is annoying. In this hard time, people need to know how to cut cost.

thank you.

Nawaoo, person dey alive dey plan how to dupe the state when he dies



Oyaaa, Lawyers in the house come ooooo

DrObum:
Nawaoo, person dey alive dey plan how to dupe the state when he dies



Oyaaa, Lawyers in the house come ooooo

The guy doesn't know that the government doesn't run on air. Why would you want to die intestate anyway?

Why not save your costs by writing a will?