Getting a will made in the UAE can help protect your immediate family from unforeseen circumstances
If you do not have a will, the UAE Law of Inheritance will be applied on your assets after your demise; and can even affect the guardianship of your children if they are in the minor age group.
As a non-Muslim expat in the UAE, you may already have a will made in your home country for your assets there. But your home-country laws of inheritance may not apply to your movable and/or immovable assets in the UAE, unless you have a registered will recognised as per UAE law.
According to a survey conducted by DIFC Wills & Probate Registry last year, nearly 60 per cent of respondents don’t see Dubai as a permanent home.
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However, 64 per cent of expats stay significantly longer in Dubai than they had originally thought, and despite 58 per cent of respondents claiming they had assets in Dubai, little more than 10 per cent out of this have a will registered in the UAE.
What can happen if you don’t have a will upon death?
- Your bank accounts will be frozen immediately for existing or contingent liabilities (regardless of it being a joint or individual accounts).
- Dependent visas will be cancelled.
- Re-appropriation of assets may be unfavourable and may not stay within your immediate family.
- Custody of minor children may go to someone you don’t prefer or the local government might have to intervene
- Life insurance claims may go into covering your liabilities or be counted as part of property to be appropriated by the Courts
- A court case appealing the automatic appropriation can take as long as five years and result in huge legal payouts.
- Bulk of your estates might go to extended family as per Sharia law.
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What you need to do beforehand?
- Inform your immediate family i.e. spouse or parents about your assets and liabilities from time to time.
- Have a complete list of all your assets, including movable assets, property, life insurance, employee benefits and have an idea of your net worth.
- Always properly complete the beneficiary details on your employee benefits form.
- Try to have separate bank accounts, assets and visas with your spouse so as to avoid problems if accounts are frozen.
source: Gulf News