Robbies

We've been finding out about wills here in Dubai after hearing of a few instances where people were left high and dry after the death of a partner.

One thought was to get an offshore bank account, but someone said just to go and get a will.

When we read up on wills here, even a will that is attested (stamped?) by the British Embassy is not 100% guaranteed to be followed, and I have even read articles that if the courts decide to follow the will, that UAE property is not covered by the will, and will be distributed as per UAE law.

As we have property here, this is of importance to us.

If we go ahead and get a will;

It is 100% likely to be adhered to?
What is the situation with UAE property being included/not included?
Are we potentially better off just opening an offshore account so easy access to money is maintained no matter what?

Any info appreciated

Meow

I wrote the site wiki on wills.

There is absolutely NO guarantee that any will you write, even if translated and attested, will over-ride Sharia law. There is little in the way of legal precedent when it comes to expats with substantial UAE assets dying, so you have to do all you can to protect your family. Note that Sharia only applies to assers held in the UAE, so you would be wise to keep the bulk of your assets, and all investments, offshore.

PM me if you want personal advice on these issues. Or I think you have my email address.

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spart

Meow has nailed the response. But who is holding your assers?
Get an offshore account in joint names.

Norm_uk

The situation is not good at all and as you have been told nothing is guarenteed.

I have a good contact who is a Fellow in the Society of Will writers - he has years of experience in the Middle East and Europe and will probably be in the UAE sometime in September. If you are around I could ask him to get in touch with you, or if you are in Abu Dhabi I will be holding an informal get together for some of my clients and friends to meet with him.

N.

Robbies

Many thanks for the replies - very helpful, as they confirmed the rumours that we have heard.

I don't want to pay out however many thousand dirhams for a piece of paper that is potentially worthless.

Shifting all we can out of UAE is our priority now, and will go ahead and look into offshore accounts (prob with HSBC as we are with them here locally - from recent posts, there is no real benefit of one bank over another, other than some have lower charges than others?)

That just leaves us with our property here, but at least in the event something happens, our finances are not frozen.

Norm_uk

Shifting everything outside the UAE is a good idea but you may still have to get a will for assets held offshore or in the UK. Spending money on a will is rarely "potentially worthless" especially if done properly - few of us can predict life, where we will end up or the time and place of our demise (apologies for being morbid but we are on the subject of wills!).

As for local property - make sure it's in both names and it should be alright.

N.

Robbies

yes, property is in joint names

As for a will, yes, its something we need, but we can arrange that in the UK when home at xmas with our solicitor there rather than rush to get one here.

Meow

Please make sure you get something sorted sooner rather than later. The percentage of people sho do not have a will is shockingly high.

And for the record we have an inhouse solicitor who draws up wills for our clients. Personally, I prefer to deal with a qualified legal expert on these matters.

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seven seas

Like any country on the planet, it makes no difference what arrangements you had elsewhere.

The local laws apply.

Isn't it a bit like saying " In country X I used to be able to ..... ".
So, bad news.

Well it's bad news if you plan on leaving your money to your pet rodent and leaving your wife and seven kids penniless. If you planned on leaving it all to your partner , then that's where it's gonna go anyway. Without the death taxes that are applicable in some places.

If you have a number of children, and a number of exes, then it gets complicated.


( I think)

Robbies

I read up on Sharia law for inheritance, and its not like that - my wife would get something like 1/8 of my assets, son gets 2/3 of remainder, then it filters down through parents, brothers, sisters etc etc each getting a portion of the remainder when it gets to them.

I want it to be 100% to my wife, but that's not going to be the case here.

Meow

Not quite right.

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Meow

That's a standard Sharia ruling, but under the same rules, you have free will regarding one third of your assets, so a will can ensure that one third of UAE assets go to a spouse, not 1/8.

Sharia law is also the reason why I advise my clients to keep most of their assets offshore, why women must have their own bank account or access to monies overseas and why it is preferable to keep most assets here in the wife's name (incl cars).





How many times have I given this information on this forum now??

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seven seas

So for families with an interesting history, things can get very nasty...

Meow

Not if you make a proper will.

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