A trustee and fund manager, UTL Trustees, has launched an online will writing service called WillPower.
The platform would serve as a means of simplifying the process of writing a will for the average Nigerian at an affordable rate.
With WillPower, Nigerians can create their wills from the comfort of their homes and so, determine how their assets will be transferred to loved ones.
Speaking at a press briefing in Lagos, the Managing Director of UTL Trustees, Mrs. Olufunke Aiyepola, said the process of creating a will has now been made easy.
“All an individual need to do is to create a secure account on our website, draft a will, print and sign.
“Once it’s dropped off at our designated couriers around the country, a legal team will review it and the will be lodged at probate in any of the 36 states chosen by the individual. “The process is seamless and the questions are easy to answer. All wills generated on WillPower are legally valid.
“Willpower is an online estate planning tool service powered by UTL to simplify the creation of will making, estate planning by making it accessible and affordable and available to Nigerian populace regardless of their culture and location, by securing the future of your assets and beneficiaries.”
Furthermore, on the various offerings on the platform, she added: “On this platform today, we have three offerings, the first is the simple will and this simple will is suitable for all that is young entrepreneurs from 28 and above, corporate service employees, public service employees and it would just take care of all your assets.
“The next offering we have is the RSA will. This relates to people who are competent employees or public service employees.
“For a lot of people, this constitutes our largest asset because PenCom reform act provides that three times the total enrolment of employees would be insured for them in death during service.
“Meaning if someone was earning N10 million per annum and that person died in service, a minimum of N30 million would be credited to that person’s retirement savings account. So that is not the kind of money we want to get to the wrong hands.
“The third offering is the RSA trust which can take effect whilst the RSA maker is alive.”
On price implications, she maintained that the service is fixed at N50,000 and would incur additional cost when more assets are added to amend a will.
She said: “It is a one of fee but it is only when after some years of more wealth and assets accumulation and you want to amend your will. Having done the initial will on our platform we would charge 50 per cent of the initial cost.”
UTL Trustees, licenced by the Securities and Exchange Commission, has over 50-year history, focused on creating, protecting and managing assets.