HOW TO SECURE YOUR ESTATE IN THE UAE: BASIC STEPS OF LIFE PLANNING

The UAE laws strictly regulate the process of assets distribution upon individual's demise based on Sharia law. That said, death of even non-Muslim expatriate holding assets in the UAE will automatically lead to:

• freeze of bank accounts, including joint accounts held with spouse;
• termination of residence visas of dependents (which means that family member will have to leave the UAE);
• transfer of custody over minor children to a person appointed by court;
• division of his/her assets under Sharia law.

Thus, if one passes away with no Will left, his/her immediate family members and loved ones may have a rough passage dealing with complex and time-consuming process of property partition. Moreover, Sharia laws envisage clear orders of distribution of deceased's property, therefore, some close people and relatives may be left with nothing. For instance, if a man dies, only 1/8 of his assets will be distributed to his wife and the son will get double that of the daughter gets. Moreover, his wife may not automatically be appointed as the legal guardian of their children.

Dubai International Financial Centre (DIFC) provides unprecedented opportunity for non-Muslims to register a will with full testamentary freedom to bequeath their estate under common law principles.

Registering a will with the DIFC Wills & Probate Registry is one of the most important things that every non-Muslim with assets in Dubai or Ras Al Khaimah should consider.

WHO IS ELIGIBLE TO REGISTER A WILL IN DIFC?

• You are not a Muslim, and have never been a Muslim
• You are over 21 years of age
• You own assets in Dubai and/or Ras Al Khaimah
• Children for which you wish to appoint guardians for must be habitually resident in Dubai or Ras Al Khaimah

WHAT KIND OF ESTATE YOU CAN BEQUEATH TO YOUR HEIRS?

• Real estate
• Shares in UAE companies
• Bank and brokerage accounts
• Vehicles
• Goods, artwork, savings