Wills in UAE can have a variety of different purposes. For example, you may want to name your spouse as the beneficiary of your assets. You may also name your children, siblings, or parents as alternative beneficiaries. It all depends on your circumstances. If you are considering preparing wills in UAE, here are different types you must know. Click this to hire professional for preparing Dubai wills for expats.
If you have assets in UAE, you must register a Full Will. Without this legal document, your family may face a range of problems. For instance, if you die without making a will, your assets may be frozen, and the bank account of your joint partner may be closed. Even worse, your resident status may be terminated if you have children in the UAE. Furthermore, if you die without making a Will, your assets could be divided between distant relatives based on arbitrary formulas.
Financial assets will:
Financial assets will in UAE be used to distribute assets to your beneficiaries. This type of will is different from a simple Will. Financial assets will in UAE is more complicated and can cover many different types of assets, including bank accounts and shares in UAE companies. It can also include complex provisions for your beneficiaries, including guardianships.
Interim Guardianship Order:
In UAE, an Interim Guardianship Order can be made to assign a person to look after a minor’s affairs. The person named as the interim guardian will have the same powers and duties as a custodian, including the right to sign any documents on behalf of the minor. They will also have to keep all the minor’s records and documents.
DIFC Will service center:
If you’re planning to leave a large amount of money to your loved ones, you’ll want to ensure they receive it. In UAE, there are various types of wills you can use. You can make a Guardianship Will, which directs the courts regarding your children. This type of will also lets you designate temporary carers in case your legal guardians can’t be in UAE. And if you have many UAE properties, you can use a Property Will to leave them to your loved ones. Property Wills are valid for up to five properties. However, you must submit pre-registration documents to use this type of will.