Next of kin

I have a friend who doesn’t believe in the idea of leaving your property or your money for your next of kin. He believes that if we have the opportunity to see how our next of kin will spend our money, we’ll never plan to leave our money for them in the first place. He said those people will spend your money in a way that you can never spend it because they are not the owner and they don’t know how hard it is for you to make your money. I argued with him in the past that not all people have this orientation, some people know how to manage things better. The older I get the older I realize that if you don’t have the experience to manage what is left in your position even with your good intentions, you might not be able to put it to good use.

I have seen families in Nigeria that fight over properties and at the end of the day, most of these families sell those properties at a cheaper price. Sometimes they sell those properties at unrealistic prices. We have people who go after this kind of property because they know that you will get a cheap deal out of them. The truth is, if the owner is alive, he will never sell his property at that rate. Most of the money families get from the sales of these properties is not often put to good use. You can see stories online of people who are sincere in all they use money given to them to start up their businesses. They will tell you that at first, they finish
the money until they build later. 

Funding the lifestyle and inexperience

When properties are passed to the next of kin, most of them are blinded by emotions believing that they have achieved everything so they spend all the money given to them on lifestyle. Some of these people sell that property cheaper and their case is just like someone who won the lottery and doesn’t know what to do with the money and ends up doing nothing with the money sponsoring their lifestyle and all the dreams that they had before some of them could think of doing something with the money is already gone. This is for the people who think they have made it but some category of people that have good intentions but lack experience.

When it comes to money, there’s a level of money that you can handle with your experience. If you are giving a certain amount of money that is higher than your experience, you might struggle, you might believe that you’re doing the right thing, but you are just on the path of blowing the money. You might have good intentions of using the money properly because you lack the experience and what it takes to handle that kind of money you will blow it. This is why some people argue that leaving large sums of money for your next of kin doesn’t necessarily mean you are doing a good thing.

It means more

Most people leave their property for their family so that they can have security in the future, they don’t care whether they’re going to be able to manage it properly or not. They just want their family to be safe when they are gone.  It is always more than just the theory of whether next of kin is bad or not. It is always about their family having more than what they need to survive in their absence.

Thanks for your time.

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