Writing a will in Dubai

Estate planning is crucial for expatriates living in Dubai. It is often seen that people take the wrong direction before they actually approach an expert in writing a will, as a result of which they waste their time and energy. In the end they come to an expert legal adviser and get the right recommendations they need to gratify their aims.

Don’t venture into generic will templates

Generic templates are what we refer to as an easy and immediate, yet unreliable solution to your estate planning concerns. These are easy and immediate because they come readily available from typing centres anywhere in Dubai. What happens is that the typing staff will provide you with a pre-tailored will as the basis for your own planning. This is where the problem arises because the pre-tailored will is based on another person’s capacities and desires, which do not automatically suit the nature of your asset or the kind of business ventures you are into.

Wills are person-specific. Individual differences dictate that estates should be planned according to each person’s characteristics, capacities and nature. A legal expert who is knowledgeable and more experienced in terms of the law and business policies would offer various options before actually allowing you to write your draft.

Don’t depend on friends or family for advice

Advice on legal matters like estate planning should be taken from an objective point of view. You might have discussed certain issues with your childhood friend or your parents, but the entire planning of your assets should be done with legal experts who have no other affiliations with you to avoid conflicts of interests. Conflicts of interests initiate from subjective judgments from persons who might not have the professional knowledge on the laws of the country.

Estate planning is dependent on your own wishes, which you want to be fulfilled once you are gone. You and only you have the right and power to determine what will be good to the people you love and to the assets you worked hard for over the years.

Other things to keep in mind when writing your will

A will basically protects all your assets in any form – insurance, businesses, trades, shares, bank accounts or gratuity amount. Always remember that:

* A will is usually done as one-time. This means that it is advisable to cover your assets in terms of class. However as per requirements, you can specify them too. Whatever asset is under your name – inherited or earned – are covered accordingly by any current will drafted and legally registered in the UAE system. This answers questions on making changes or modifications on assets sold and earned in the future.

* A Power of Attorney is actually an important document. This is applicable in situations where the person has gone missing or is no longer physically capable of presenting himself in legal and business procedures. A PoA allows the appointed attorney to represent the missing or disabled person for the purpose of continuously managing the estate, in other words, ensuring the ball keeps rolling. In case of death of the asset owner, a PoA becomes null and void.

* Create addendums or additional documents to serve as references. Clients are usually advised to make a list of their assets and write down the names and contact details of persons who are currently in charge of these assets. These addendums are useful so heirs will know who to get in touch with once they aim to claim their rights.

Any expatriate in the UAE, regardless of religion, gender, nationality or business ventures, is advised to have their will drafted as early as possible. Legal consultants are always available for consultations. Wills are not only for those who own huge assets. Any size or type of assets, big or small, movable or immovable, gratuity payments or insurance policies must be planned and managed based on one’s wishes and judgements.