WILL OR DEED OF GIFT: WHICH ONE PROTECTS YOUR LOVED ONES BETTER?

WILL OR DEED OF GIFT: WHICH ONE PROTECTS YOUR LOVED ONES BETTER?

Many people plan to share their properties someday, but that someday may never come.

Some die leaving only promises, while others make rushed decisions that spark endless family tussles.

To protect your loved ones, try and understand the difference between a Will and a Deed of Gift, two important but different legal documents.

A Will is a legal document that speaks after a person’s death. It directs how the person’s assets should be distributed.

He remains the owner until his/her last breath, and he/she can amend or revoke the Will anytime. A Will gives you control and flexibility.

A Deed of Gift, on the other hand, is a legal document that transfers ownership of property free of charge while the owner is still alive. It is an act of generosity.

Once signed and perfected, the property ownership legally leaves your hands and becomes the recipient’s. Once gifted, it cannot be revoked, even if the relationship changes.

So which one protects your loved ones better? The answer depends on your goal. If you want to retain control and make adjustments while alive, write a Will.

But if you want to give property immediately, prepare a Deed of Gift.

Either way, both documents must be prepared by a Property and Business Lawyer to ensure they are valid and enforceable.

Your intention is noble; let the law make it last.

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APEX CHAMBERS, Law Firm of Property/Real Estate and Business/Corporate/Commercial Lawyers, Attorneys, Barristers, Solicitors Advocates, Legal Practitioners rendering legal services, Legal Consultants and Notary Public with Law Office in Port Harcourt, Rivers State, Nigeria

Phone: +234(0)7030868694 (Calls & Whatsapp)
Email: info@apexchambersglobal.com
Website: www.apexchambersglobal.com