By: Kendi Latoya

Estate planning is one of the most essential things that people should consider doing. Most people see it as a “taboo”, thinking that doing this is almost as if you are predicting your death. In one’s lifetime, people accumulate a lot of property in the form of real estate, shares, movable properties such as motor vehicles etc.

The question should then be, what happens to all the property in the eventuality of death? This is a natural occurrence in this world that neither of us can avoid. Most people die without planning their estate, hence in such an instance in Kenya, their property is subjected to the Succession laws and courts which deal with the distribution of such estates to the beneficiaries, known and unknown. This is due to the fact that they die intestate (without a will) or die having left a will but the same is invalidated due to not meeting the requisite requirements as per the law of succession.

This usually, in most cases causes family scuffles over the deceased’s property, where certain members of the family feel inadequately catered for. These disputes can usually even last for years and years to come due to disagreements on the same. Further noting that as these disputes prolong no one can deal with the deceased’s property as the same would amount to intermeddling which is a criminal offence in Kenya.

The whole essence of Estate planning is to avoid such scenarios and ensure that everybody is catered for. Not to say that this completely rids the possibility of disputes but if properly done the same can be avoided.

The key is to ensure that one caters for the known and unknown dependants.

The vehicles used to effect Estate planning in Kenya are below:

i. Wills: This is the most popular instrument, which people are aware of.
ii. Trusts: This is a very effective instrument for estate planning as in this instance a Trust is created, with Trustees and beneficiaries, with a Trust Deed as the primary document. Once the trust is properly constituted all properties transferred to it belong to the Trust, hence all properties belonging to the Trust can only be distributed to the persons named in the Trust. Trusts are also very beneficial especially with regards to minors as they can be well catered for to ensure that they are educated etc.
iii. Joint ownership of property as “Joint Tenants” Property that is owned by Joint tenants automatically devolves to the surviving tenant upon the demise of either. This is a tactic that can be used by spouses to avoid people claiming for ownership of property.

Kindly click on the link below to access and/or download the pdf version of this article.
ESTATE PLANNING IN KENYA-pdf

Please contact us if you require further advise on the above subjects.
Email: info@kendikadvocates.co.ke
Website: www.kendikadvocates.co.ke
Tel: +254768028504

Disclaimer:
This information provided in this Article is intended as a general overview of the subject dealt with. This information is not intended to be, and should not be used as, a substitute for taking legal advice in any specific situation. Kendi & Company Advocates is not responsible for any actions taken or not taken on the basis of this information.