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Ask Shade

7 Things a Valid Will Cannot Control

By | Ask Shade | No Comments

A legal will cannot—and thus does not—control everything. When it comes to estate planning, there are several types of documents that already name your designated beneficiaries. Thus, your will does not control: Who receives your life insurance proceeds. If you’ve designated a beneficiary, the beneficiary gets the life insurance no matter what you may state in your will. If you have a change of heart, you should change the beneficiary with your life insurer. Who receives money from your retirement accounts. These act like life insurance proceeds. Whoever you’ve designated as your beneficiaries will get the money from the retirement accounts despite…

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ESTATE PLANNING: LEAVING A LASTING LEGACY

By | Ask Shade, Investment 101 | No Comments

Wakanda Forever. Unfortunately, no-one lives that long. Chadwick Boseman excited and inspired countless youths and adults when he played the world’s first black superhero, King T’Challa of Wakanda, in the blockbuster “Black Panther.” His recent passing at age 43 shows us that even those who appear to be young, vibrant, wealthy and heroic need an estate plan whose key elements include: A Durable Power of Attorney, which appoints a surrogate to make decisions about property and financial affairs on behalf of an individual, especially when or if they become incapacitated; A Healthcare Power of Attorney which appoints an Agent for…

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7 Things A Valid Will Can Control

By | Ask Shade | No Comments

Valid last wills can provide for: Appointment of an executor of the estate. The executor should be someone you trust to administer the estate and follow what the will provides. The executor also pays the estate’s debts and taxes. He or she helps ensure that the beneficiaries receive what you wanted them to receive. Division of your assets. You can divide your assets any way you choose. Appointment of a guardian for your children. You can name a legal guardian, and/or an estate guardian, for your minor children. Make sure the guardians are people you trust to raise your children…

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Market Update: August 2020

By | Ask Shade, Research | No Comments

Equity: The Nigerian Equity market closed the month of August on a positive note. The ASI expanded by 2.51% on a month on month basis, whilst on a year -on-year basis, the losses eased to -5.6%. On a sectorial basis, telecoms emerged as the best performing sector gaining +20.47% year-to-date, followed by the cement sector (+8.37% year-to-date). Other sectors closed on a negative note including Banking (-16.26%), Brewers (-39.25%), Oil and gas (-60.36%) and food (-16.34%). Going forward, we anticipate improved local domestic participation in the equity market due to the lower yield environment in the fixed income market. However,…

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Ask Shade About Trusts: My Salary Has Been Slashed, How Can I Give my Child the Best Education?

By | Ask Shade | No Comments

Dear Shade, I am a single mother and for the past 6 years, I have been raising my child alone. I vowed to do whatever I can to give my child the best of education so that she can achieve her dream of becoming a pilot. Due to the current COVID-19 pandemic, we had a pay-cut at work where my salary was reduced by 30%, but I still want to fulfill my vow of giving my child the best education. Kindly advise me on what I can do.  – Stella, Bonny Island *** Dear Stella, I appreciate you reaching out to…

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