Following the 'Nhoroondo' series by Jah Prayzah was quite intriguing and an awesome experience; the writer was captivated by the song 'Nherera' which left many people who watched it in tears. Thank you, Jah Prayzah, for bringing to light the common but underrated scenario.
People often forget that there are various forms of harm and misfortunes that may befall their loved ones when they have departed. Apparently, the video shows that property distribution is one of the critical issues which parents ought to consider and finalise before they die. Regardless of the cause of death, it is an unescapable truth that often plays out in our society , where greed among the deceased person's relatives would have them cast their interest in the properties belonging to the deceased. It is therefore prudent for parents to hedge against such occurrences by protecting the rights and interests in property for the benefit of their loved ones.
Today's topic seeks to expound on the rights of children to properties left by their parents, especially in cases where there is no existing or surviving parent. This arises in cases where a single or both parents are deceased. This is probable considering the Covid 19 pandemic, notwithstanding various other scourges that haunt lives within our society.
A responsible parent can create a family trust to safeguard the family properties for the benefit of loved ones. The writer has expounded on how family trusts can be used as vehicles to protect the family assets even after death. For more information, please visit: https://businesstimes.co.zw/family-trusts-an-effective-vehicle-to-manage-your-estate/
In addition, a will can also be written and put under safekeeping at the Masters Office or legal practitioner who would have assisted in the drafting of the will. The writer has also explained a lot on the will and the reader is invited to read the article on: https://businesstimes.co.zw/an-insight-into-will-writing/
In cases where there is no preparation, which the writer cautions against, the inheritance laws as enunciated in the Administration of Estates Act provides that in the death of a spouse, the remaining spouse gets the principal residence and the children get 1/3 share of the remaining assets. Therefore, it follows that in the event that there is no surviving parent, the children should get equal share of the assets.
In conclusion, the writer implores all parents to take seriously the aspect of inheritance planning to ensure that their surviving children are not exposed to property grabbing by greedy elements in our society. It is painful for our beloved ones to be taken advantage of because of our own failure to plan. Be reminded that failure to plan is planning to fail.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.