If you have a will in the UAE, it can help protect your family from unforeseen circumstances. But if you do not register your will in the United Arab Emirates, the basic law pertaining to inheritance will most probably be applicable over all of your assets as soon as you pass away. Most importantly, and it can also affect your children’s guardianship if they are considered as minors due to their age.
If you are a Non-Muslim expat, and you have already registered your will in the country of your residence, then the one thing that you need to know is that the laws of your home country cannot be considered applicable to your immoveable or moveable assets that are currently in the UAE. This would be true unless you registered your will in the Middle East and is recognized by the laws of the country.
The procedure of UAE will for expats is much complicated. You have to fulfill all the requirements under the UAE law. You have to get DIFC Wills and probate registry. This registry aims at addressing with certainly succession and matter of inheritance with assets in Dubai. As per a survey that was conducted in the country a few years ago, mostly 60% of respondent do not see Dubai as their permanent abode. But 64% of expat stay longer in Dubai that they had actually thought and 58% respondent claiming that they have built their assets within Dubai. More than 10% out of this have a will registered in UAE.
So what if you do not have a will registered in the UAE?
- Bank account will be freeze immediately for contingent and existing liabilities.
- Visa will be canceled of dependent.
- Assets cannot be re-appropriated as it may turn out to be unfavorable and may have to move away to others outside your family
- Minor children and their overall custody can go to someone that may not be the best choice. It might also become necessary for the government to interfere in the matter.
There are a number of other drawbacks as well that your dependents and other family members might have to suffer from just because you did not choose to register your will in the UAE.
Steps that you must take in this regard
- You should inform your family, spouse or parent about you liabilities and assets every now and then.
- You should have detailed information of your assets such as moveable assets, life insurance, property, employees benefit.
- Always have proper beneficiary details on your employees benefits form.