In your own country, there may be statutory laws to guide the distribution of your assets after your demise. But in the UAE, making a legally valid will is the best way to ensure that all your wishes are carried out.
According to Sharia law, each member of your family will get a share of your fortune, but your own plans may not see fruition and your personal desires may not necessarily be fulfilled. In the period immediately after a sudden death, your beneficiaries may not be able to draw money from a bank account, transfer assets, or use any part of your frozen estate. Legal proceedings can also signify great stress and distress.
If you are an expatriate with a business, bank balance, property or other assets, you can help your loved ones avoid long legal processes, by preparing properly for their future. Making adequate arrangements will not only let them know that you care enough, but will also save them considerable trouble. More importantly, it will ensure that you are in full control of what happens to your family even after you are not with them.
1. If you are a parent, you can use your will to leave clear instructions on who must look after your young children and how they must be provided for.
2. If you are married, it is wrong to assume that your spouse will automatically get everything you own. However, you can ensure this by leaving specific instructions in your will.
3. If you are single, you can choose exactly how you want your estate to be disbursed among friends, family, relatives, and/or charities – instead of leaving it to chance.
4. If you are in a second marriage, your will can make provisions for non-traditional relationships like children from previous relationships. You can also add exclusion clauses for ex-partners.
5. If you own a company, we can make it easy to plan proper succession, divide shared property, segregate your investments from those of your partners’, and lawfully ensure that the inheritors of your choice take over the reins from you.
6. If you are retired and made a will a long time ago, you must update it to include grandchildren, or, to omit people you no longer wish to leave anything to.
A will brings security, reassurance and peace of mind – not just for you, but for all those you love, and everyone who depends on you. Get started on your future today, and ensure that it is sound.
Please contact one of our experienced Wills lawyers today for more details. Email us at info@twslegal.ae or call +971 4 448 4284.