Protect Yourself with a Last Will and Testament

Right now, the last thing you might be thinking is preparing a will and testament. After all, you are young, healthy, and active. What could possibly go wrong? However, legal advocates in Dubai highly recommend for you to reconsider your thinking.

If you are like most people, you are working hard to accumulate wealth and ensure you have something to give to your children as inheritance or at least retire comfortably when you grow old.

However, life is unpredictable. Things can get wrong too quickly. If you don’t have a will and testament in place, you might be shocked to know what will happen to the people and things you left behind.

What are will and testament?

A will is a legal document that you can prepare any time to specify your “will” or wishes after your death. In most cases, a will is used to know how you would like to distribute, use, and preserve your assets. With the use of a will, you can designate a person or people as beneficiaries who would eventually handle your properties after your demise.

Why you need a will and testament?

The number one reason you need a will is to ensure that your properties, wealth, and assets are distributed according to your wishes. A verbal agreement will not suffice especially if you are residing in the UAE.

You need to have Sharia-compliant will. If not, your loved ones might not lawfully claim your assets after you pass away. It is worth noting as well, according to one of the international law firms in Dubai, that even if you already have a will in your home country as an expat, your will might not be applicable for your assets in the UAE.

So, what will happen if you don’t have a will in place? The UAE Law of Inheritance would kick in. This means that your bank accounts would immediately be frozen whether it is an individual or joint account. Another thing that might happen is that the visas of your dependents would be cancelled. The UAE government decides how your assets would be distributed and might not even be given to your family. Worst, the custody of minor children may go to people whom you don’t prefer. Thus, it is also best if you hire one of the legal firms in Dubai.

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