Just Wills
Drafting a will isn't just about your peace of mind—it's about protecting those you care about the most. Ensuring that your assets are distributed according to your wishes and that your loved ones are taken care of is an essential part of estate planning. If you're residing in the UAE or have assets here, there are specific considerations to be mindful of when preparing a will.
Here are the key aspects you need to consider when drafting your will in the UAE.
1. Understand the Legal Framework
The legal system in the UAE is a blend of Sharia principles and civil law, which impacts how estates are distributed. For non-Muslims, you can stipulate that your home country's laws apply to your will, but you need to be aware that the courts may still apply Sharia law to certain matters, especially if your will is not comprehensive or properly drafted.
Additionally, wills need to be registered and translated into Arabic to be legally recognized in the UAE courts. Having a legally sound and correctly translated will ensures that there will be no legal disputes when it's time to execute your wishes.
2. Create a Comprehensive Asset Inventory
One of the first steps in drafting a will is taking inventory of all your assets, both locally and globally. This includes:
- Real estate properties in the UAE or abroad
- Investments and shares
- Bank accounts
- Personal belongings, including valuable jewelry, cars, or art collections
- Creating a clear and comprehensive list will ensure that nothing is left out and that each of your assets is distributed according to your preferences.
3. Accurately Define Your Beneficiaries
Identifying your beneficiaries and ensuring the accuracy of their details is crucial. Clearly naming your spouse, children, family members, and any others you wish to leave your assets to helps prevent future disputes. You should also specify how you want your assets divided. Consider setting up trusts or making arrangements for minors who may not yet be able to manage their inheritance.
4. Appoint Guardianship for Minor Children
One of the most important reasons for drafting a will is to designate a legal guardian for your minor children. In the unfortunate event of your passing, having a clearly appointed guardian ensures that your children will be cared for according to your wishes. Without a legally recognized will, the court may intervene, and the decision may not align with your personal desires.
5. Regularly Update Your Will
As life changes, so should your will. Whether it’s a marriage, divorce, the birth of a child, or acquiring new assets, regularly updating your will ensures that your current wishes are reflected. It’s good practice to review your will every few years or after significant life events.
6. Seek Professional Advice
The intricacies of UAE law and the unique blend of personal and cultural considerations make it essential to consult with legal experts who specialize in estate planning. A professional advisor will help you navigate the legal framework, ensure all documentation is correct, and that your will is aligned with both your intentions and UAE law.
Conclusion
Creating a will is one of the most significant acts of responsibility you can take for your loved ones. By taking the time to understand the legal nuances of the UAE, carefully listing your assets, naming your beneficiaries, and updating your will regularly, you can ensure that your legacy is secure. Consulting with experienced professionals will also provide peace of mind, knowing that your wishes will be carried out and your loved ones protected.
Start planning today and secure the future of those you love.
Mohammad Deepak Marria
Managing Director JustWills