6 things to know about writing a will for expats in the UAE
There are many benefits of hiring legal consultants in the UAE considering the importance of writing a will for expats for the purpose of securing their hard-earned investments.
Many people aren’t even well-informed about the Dubai wills for expats because they don’t know about the UAE laws in the first place.
The UAE laws allow the expats to delegate their assets and investments to their family and loved ones in case of any unforeseen circumstances so they could secure their future.
Whether you’re looking for legal consultants in Abu Dhabi or anywhere in the UAE, it’s good to know these 6 things about writing a will for expats in the UAE.
To qualify for the wills, an expat should be a business owner or investor who owns any property or assets and should have a secure job that covers gratuity and provides insurance benefits.
2. No Nomination System
There is no nomination system in the UAE. The expats have to write a will to secure their investments and assets at their earliest so their family or loved ones don’t have to go through all the hassle while suffering from any loss.
3. Compulsory Legal Document
A will is the only compulsory legal document that will inform about the legal and deserving recipients of your assets. Without the will, there are no legal recipients and the inheritance law of the country shall take its place to find one.
4. Bank Account Requirements
As an employee working in the UAE, there are no such bank requirements and you can transfer all the money or assets to your family and also cover your gratuity through writing a will. You can even plan to delegate your assets to your children below 21 years so they can be protected through the will.
5. Legal Authority
It’s essential to seek insights from specialized professionals in this field who know about the legal requirements and procedures to help you write a will. You can even hire legal consultants in this case so that you don’t have to worry about any mishaps in the future.
There are indeed some risks involved in writing a will whether you’re a business owner or an investor who has invested in free zones or established your business in the mainland. You have to be careful while writing a will as there are certain laws regarding family and friends too.