Economy
Five Factors to Consider when Choosing the Right Estate Plan
By Rotimi Obende
The concept of Estate Planning dates to ancient civilizations, when people began to think about how their assets would be distributed after their death.
In ancient Egypt, for example, people would often create a Will, which was a legal document that outlined their wishes for the distribution of their property. They would also designate heirs who would inherit their wealth. This practice highlights the enduring importance of planning for the future.
Securing your future and those of your loved ones is of utmost importance, and you can achieve this by having an Estate Plan.
Knowing and choosing the right Estate Plan can be complicated, as you will need to consider peculiarities and other factors that are specific to you alone. Because of the complex nature of Estate Planning, you will need practical advice and an expert institution to guide you.
This article will explore the following five factors, offer practical examples, and provide valuable insights to assist you in effectively managing the Estate Planning process:
Define Your Goals and Objectives
To commence your Estate Planning process, it is important that you first define your goals and objectives. Think about your assets, consider how you want your wealth distributed, any philanthropic goals you may have, and other specific wishes you want fulfilled. For example, you may want to ensure that a portion of your Estate goes towards supporting education or healthcare initiatives. By clearly defining your goals, you can tailor your Estate Plan to reflect your values and intentions. Seeking assistance from Ruelas Andino Law can provide the expert guidance you need to navigate this process and ensure your plan aligns with your desires.
Seek Professional Advice
Estate Planning can be a complex process that involves legal and financial workings, which is why it is essential that you seek the guidance of an expert. There are a few estate planning institutions that can guide you and help you navigate the legal requirements and tax implications while ensuring that your Estate Plan complies with the current laws and regulations governing the jurisdiction where you reside. At FBNQuest Trustees, we are fortified with a team of experienced professionals that will ensure you choose the most suitable Estate Plan that speaks to your need. Our reliable advisors can assist you in making the right choices that safeguard your assets and ensure seamless transfer to your beneficiaries.
Determining the Right Instrument
With your intentions in mind, `professionals will provide tailor-made advice on the appropriate tools to adopt, which could either be Wills, Trusts, and Powers of Attorney. For instance, a Living Trust allows you to manage and distribute your assets during your lifetime for your benefit and that of your loved ones. Even in the event of incapacitation or death, the Trustee must still adhere to the terms outlined in the Trust Deed. A Will, on the other hand, outlines your wishes for asset distribution and guardianship. This, however, only takes effect upon your demise. Understanding these documents will enable you to make informed decisions about their inclusion in your Estate Plan.
Consider Family Dynamics
When planning your Estate, it is crucial to consider your family dynamics. Let’s explore a typical scenario: You have a family-owned business that you wish to pass on to your children. However, you have one child who is actively involved in the business while the other pursued a different career path. In this case, you may want to structure your Estate Plan to ensure a fair distribution of assets, acknowledging the dedication and involvement of the child in the business. One possible solution is to establish a Trust that appoints a child who is skilled and knowledgeable in the business as a director, while the other child takes on a less active role or no role at all. The Trustee can then distribute profits according to the terms of the Trust Deed. By addressing these unique family dynamics, you preserve family harmony and ensure a smooth transition of both the business and other assets.
Regular Review and Updates
It’s crucial to understand that Estate Planning requires continuous attention. As life situations, laws, and financial conditions change over time, it’s essential to regularly review and modify your estate plan. Births, deaths, marriages, divorces, or financial status changes may require adjustments to your plan. It’s important to keep your Estate Plan current and in line with your desires. Regular reviews are a great way to ensure everything stays up-to-date and accurate.
Choosing the right estate plan involves carefully evaluating family dynamics and asset protection goals to ensure future stability. Working with Fort Collins estate planning attorney Karen Brady allows individuals to craft a legally sound strategy that reflects their specific intentions while minimising potential tax burdens for heirs.
By defining your goals, seeking expert advice, considering family dynamics, and fostering open communication, you can create an Estate Plan that reflects your wishes and secures a legacy.
Rotimi Obende is the Head of Private Trust at FBNQuest Trustees
By Aduragbemi Omiyale
Nigeria slightly surpassed its quota set by the Organisation of the Petroleum Exporting Countries (OPEC) in July 2026.
In the month under review, the country produced about 1.57 million barrels of crude oil per day.
It was the third consecutive month Africa’s largest oil-producing nation was meeting its monthly quota, set to stabilise the price of the commodity on the global market by the oil cartel.
Data released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on Wednesday showed that the 1.5 million barrels per day ceiling for Nigeria was surpassed last month.
The agency disclosed in a statement today that the country produced 1.505mbpd of crude oil and 0.17mbpd of condensate, bringing the combined daily production to 1.67mbpd.
In the month under review, the daily peak production of crude oil and condensate was 1.78mbpd, while the lowest daily production was 1.57mbpd.
Although Nigeria met its OPEC quota in the month of July, the statistics show that on a month-on-month basis, production fell by 4 per cent.
This was attributed to the decline in production due to operational challenges experienced at the Erha and Akpo fields, which impacted crude oil output during the period under review.
These disruptions constrained production volumes and contributed significantly to the overall reduction in national crude oil output.
Despite the challenges, production operations across most other producing assets remained relatively stable, with operators implementing measures aimed at maintaining production efficiency and minimising the impact of operational constraints, NUPRC stated.
By Aduragbemi Omiyale
The over 9 billion shares of Lasaco Assurance Plc issued to shareholders of the company via a rights issue have been listed on the Nigerian Exchange (NGX) Limited.
The equities were brought to Customs Street on Wednesday by the organisation, increasing its total issued and fully paid-up share capital.
Lasaco Assurance, which scaled the recapitalisation hurdle of the National Insurance Commission (NAICOM) in July 2026, raised fresh capital from the capital market to shore up its capital base.
The underwriting firm got about N18.5 billion from the rights issue, which involved the issuance of 9,236,321,546 ordinary shares at a unit price of N2.00.
The exercise was on the basis of five new ordinary shares for every existing six ordinary shares held as of the close of business on Friday, February 20, 2026.
Confirming the listing of the additional stocks of Lasaco Assurance today, the Head of Issuer Regulation Department of NGX RegCo, Mr Godstime Iwenekhai, announced in a circular that, “Trading licence holders are hereby notified that an additional 9,236,321,546 ordinary shares of 50 Kobo each of Lasaco Assurance Plc were today, Wednesday, August 12, 2026, listed on the daily official list of Nigerian Exchange Limited.
“The additional shares arose from the company’s rights issue of 9,236,321,546 ordinary shares of 50 Kobo each at N2.00 per share on the basis of five new ordinary shares for every existing six ordinary shares held as of the close of business on Friday, February 20, 2026.
“With the listing of the additional 9,236,321,546 ordinary shares, the total issued and fully paid-up share capital of Lasaco Assurance Plc has now increased from 11,083,585,855 to 20,319,907,401 ordinary shares of 50 Kobo each.”
By Adedapo Adesanya
The Nigerian Insurers Association (NIA) has said the successful recapitalisation of the insurance industry will strengthen the sector’s ability to support financial stability and economic growth.
NIA Chairman, Mrs Ebelechukwu Nwachukwu, said a well-capitalised insurance industry would be better positioned to meet its obligations promptly, underwrite complex and large-scale risks and serve as a dependable pillar of the Nigerian economy.
She made the remarks while commending the National Insurance Commission (NAICOM) for its structured implementation of the new minimum capital requirements under the Nigerian Insurance Industry Reform Act (NIIRA) 2025.
Mrs Nwachukwu said NAICOM’s clear guidelines, systematic verification process, defined timelines and rigorous supervision had provided operators with a credible framework for navigating the recapitalisation exercise.
She described the outcome as a major milestone for the industry and congratulated the 43 insurance and reinsurance companies that have successfully met the prescribed minimum capital requirements.
According to her, the exercise represents “a major win not just for regulators and operators, but for policyholders, investors and the wider Nigerian economy.”
Mrs Nwachukwu said the association would continue to work with NAICOM and other stakeholders to consolidate the gains of the exercise, with emphasis on sustainable industry growth, stronger market conduct and improved consumer confidence.
The official also expressed solidarity with the eight companies still undergoing final verification and regulatory review, urging them to remain confident as NAICOM completes the process within the 14-day review period.
The NIA chairman assured policyholders and the wider business community that the insurance industry would emerge from the recapitalisation exercise stronger, more resilient and better positioned to contribute to Nigeria’s economic development.
