What is the importance of next of kin in business documents

[Segat]

Next of kin is a very serious issue these days especially when the business owner died, who is in the best position to claim business/ investment dividends? Who should be used as next of kin? Does it requires a particular age or gender or academic qualification? Let's discuss.

 

[IamDozzy]

Next of kin is very important especially in business transactions that has to do with keep money. This is because in the event of death of the owner, the next of kin can claim the owners Investment. A next of kin can be anybody the owner chooses but it's usually a family member such parents, siblings or children or it can be a very close family friend. Most Insurance companies wouldn't open an investment with you except you have a next of kin.

 

[btaliat]

It is very to put the next of kin in any financial document because of unseen circumstances. If the information is not correct or not put, it is to the advantage of the financial institution. They will claim the money since there is nobody else to contact to claim the money or investment of the deceased. The next of kin can be anybody that you will like to have your money but it is better to use family.

 

[marcusfe]

Next of kin is very important in business documents that is why it is advisable to use someone you most trust as your next of kin. Your next of kin has absolutely direct access to your business and every other this to take over and manage they for you once you're no more. That is why is not a good idea to use your boyfriend or girlfriend as your next of kin.

 

[Setfragil]

To encourage continuity in business when the business owner dies and to avoid litigation from different parties, it is very good and important for a owner of a business to always indicate the next of kin in a business it will goes a long way in saving the business for future problems. Everything concerning the ownership must be clearly spelt out.

 

[Maphalle]

Whether in business or work place a next of kin is important to alleviate problems that might arise after the death of the main member. Some fo even to an extend of writing a will to avoid fight and misunderstanding among the family.

 

[Segat]

Next of kin is very important in business documents that is why it is advisable to use someone you most trust as your next of kin. Your next of kin has absolutely direct access to your business and every other this to take over and manage they for you once you're no more. That is why is not a good idea to use your boyfriend or girlfriend as your next of kin.

I agreed with you absolutely but I think the most important thing is your next of kin must be a trusted person it does not matter the gender, handling it correctly is not determined by gender but by individual knowledge, experience and exposure. But what if my boyfriend or girlfriend is the most trusted person as at that time I am taking the decision, what do I do?

 

[Segat]

Whether in business or work place a next of kin is important to alleviate problems that might arise after the death of the main member. Some fo even to an extend of writing a will to avoid fight and misunderstanding among the family.

But i am thinking next of kin has nothing do with the will of deceased especially when he or she was able to put it down in writing or voice recording through the help of a legal officer. The next of kin can come to play if the owner of the business has something to claim somewhere probably has not yet included in the will.

 

[Mellorando]

Life is not guaranteed and as humans we just live each day as it comes putting your next of Kins in any of your business documents is important because no one knows tomorrow failure to do so to bring without further complications and disagreements when you are no more

 

[Alexandoy]

I have to agree that you need to be accurate with the next of kin in documents. When my mother's uncle died (he was living with us) my mother went to the social security for the death benefits. The next of kin said the uncle had 2 kids. But those kids turned out to be imaginary only. It was sad that we were not able to receive the uncle's benefits because of that wrong names in the next of kin.

 

[Sotherefore]

It is an agreement you are writing which you directly authorised a particular person to take over a particular property in your absence or whenever you pass out, it is important as this will give an idea of how property should be shared among family members after you have pass out.alot of people sealed this agreement with a lawyer and the court of law.

 

[Doradorwa]

The next of kin is a very important piece of information in any document that contain financial seal... The well documentation of who you want to be spending your money after your demise. The gender or the academic status of the person the money is going to has nothing to do with the next of kin question. This had to do with your will.

 

[Samuel72]

in the ancient time people die, and after their death their business or their properties are being given to either their brother or anyone in the family but presently it's advisable for you to stay your next of kin before you die, so that your property will not be given to the wrong person.

 

[sincerem]

In every business, investment we need a back up in-case the unforseen takes place. The next of kin now comes in to fill the void, even the banking institution require one to fill the space for the next if kin. If we don't cover for that, the registration won't be successful. Because one needs back up when their is time for emergency, who gonna stand and claim the treasury asset.