Towards Household Asset Protection: Findings from an Inter-generational Asset Transfer Project in Rural Kenya

AbstractExcluded from economic institutions, social opportunities, and legal protections, poor communities are often unable to break generational cycles of poverty. In sub-Saharan Africa, communities facing socio-economic and political exclusions are particularly susceptible to asset loss and wealth misappropriation, especially after the death of a main income earner. To address these vulnerabilities, Urithi intervention provided households in rural Kenya with tools to protect household assets through succession/inheritance planning. Using lessons learned from financial literacy curricula in asset-based programs, the intervention introduced and guided participants through the legal and financial concepts aligned to the country ’s customary and statutory rules adjudicating the smooth transfer of assets. The intervention facilitated asset protection by providing participants with tools to assist them in writing a will and documenting property, as a means of safeguarding family assets. The post-test quantitative data prese nted here (N = 101) were part of a mixed methods study designed to evaluate the intervention. Structural equation modeling determined that participation in this intervention was significantly associated with succession/inheritance planning. The study concludes that including a legal component alongside financial education would further support vulnerable householders ’ efforts to secure assets for their dependents.
Source: Global Social Welfare - Category: International Medicine & Public Health Source Type: research