Universal Merchant Bank has unveiled a new estate planning solution, UMB LegacyCare+, aimed at helping individuals manage their assets and ensure a smooth transfer of wealth to beneficiaries after death.
The initiative is designed to tackle the growing issue of intestate succession in Ghana, where many people pass away without leaving a will. A 2023 report by the Institute for Liberty and Policy Innovation estimates that about 85.5% of Ghanaian adults die without proper estate planning.
Speaking at the launch, Head of Registrars and Wealth Management, Niine Inkumsah Sarpong, noted that the product comes at a crucial time, as many families continue to face difficulties due to the absence of structured inheritance plans.
She explained that UMB’s long-standing experience in registrar services has exposed delays in transferring assets, sometimes decades after an individual’s death, largely due to the lack of clear estate planning. According to her, LegacyCare+ provides a structured solution for individuals who may want to create wills but are unsure how to begin.
Also addressing the media, Head of Corporate Communication Edem Knight-Tay highlighted that the product is inclusive and accessible to a wide range of customers.
She emphasized that anyone aged 18 and above, regardless of education or wealth status, can benefit from the solution, provided they own identifiable assets. She added that the product seeks to close the gap in estate planning and prevent the hardships families often endure when loved ones die without proper arrangements.
Through LegacyCare+, UMB aims to ensure that individuals can secure their legacy while safeguarding the financial well-being of their families even after they are gone.
Source: citinews
