The last NIC event saw the launch of their Entrepreneur club and a few speeches and presentations and I was mightily impressed. I was in for a treat this morning. This was because Mrs. Anne Mbugua was on hand and she was talking to us about Succession in Kenya. This is really important as you can imagine. Every once in a while we will be bombarded in the news by some family haggling over a dead man's (never a woman interestingly) assets. In fact they don't even have to be dead for all hell to break loose if the strange case of Gerishon Kirima is any indicator.

Mrs. Mbugua took us through a presentation explaining to us exactly what succession is and why we need to take it seriously. It was a quick course in law school which was appreciated. For one you need to take charge of your affairs of someone else will; elders, courts et al. In fact, if you don't plan ahead and there is conflict the people who will benefit the most will not be your dependents but lawyers. And we all know that the one person you don’t need to be enjoying the proceeds of your blood and sweat is a lawyer.

Another reason you need to do the will thing is that when you die (and you will) several things will happen. Banks freeze your accounts thus no credit. People start the court battle and your business suffers. Let’s not even forget that if you did not prepare your business the drama that won’t appear as you are the only one who knows what is where.

A will is important especially for your nearest and dearest who courts call dependents. Your dependants happen to be your family (wife both current and ex), children and relatives. You can give two types of wills; oral or written. You want to write your will as the oral version is only valid for three months and has quite a few caveats. We also went through the law succession with some look through the current law and the constitution. Mrs. Mbugua warned that there is a lot of litigation on the way as the constitution is very strong on combating discrimination especially where women are concerned. There could possibly be situation where people wishes could possibly be discounted where they are deemed to be unfair and gender unfriendly. I can see ambulance chaser lawyers rubbing their grubby little hands as they read this. Nkt.

There were lots more being told to us but the long and short of this was that you need to do your succession planning early. If you want to ask any questions of Mrs. Mbugua she works for Musyimi & Company and specialises in family law and corporate law please email her at This e-mail address is being protected from spambots. You need JavaScript enabled to view it . Alternatively you can check out the company website at www.musyimilaw.com

P.S. There were other several other presentations but I had to dash for the launch of Tatu City and missed these.

>> Similar links

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:: My mind gets blown (thank you NIC Entrepreneur Club)

:: NIC Bank launches entrepreneur account and business club

:: Bank of Africa sponsors this years Law Society of Kenya Conference

:: The Real Vioja Mahakamani

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