Estate planning for women
Wherever in the world, there are women who have apprehensions when it comes to venturing into asset acquisition. It gets even more confusing when talking about managing assets and planning the distribution of estate.
Here's why all UAE expats must write a will
A lot of people think that wills are just for the rich. Expatriates in the UAE never considered writing a will as a priority because of the misconception that only those people whose assets amount to millions are entitled to secure their investments. It is high time for non-Muslim expatriates to realise the importance of wills in delegating their hard-earned properties to deserving heirs.
HOW DUBAI ASSETS ARE MANAGED IN AN EXPAT DIVORCE
In 2016, the Dubai Statistics Centre revealed that there are six cases of divorce for every one thousand couples in Dubai – a figure that is considered higher than the global divorce rate. Divorce is a consistently rising phenomenon in the country and expatriate couples are left in confusion over how to handle and manage the assets that they jointly struggled to acquire. Some cases end up with the husband and wife agreeing to mutually beneficial terms, while others lead to a disastrous and chaotic distribution of investments, usually leaving the children and other heirs at the losing end.
Writing and amending a will in Dubai
Estate planning is an important requirement for expatriates who own assets in the UAE or anywhere outside their home country. Non-Muslims residing in Dubai who have invested in property and other forms of assets should plan for a logical and prompt distribution of their assets in case of unexpected eventualities such as death.
Safeguard your firm's interests
In February 2016, the Personal Status Court of the Dubai Courts issued an order stating that should an individual shareholder of a Dubai-based firm pass away unexpectedly, the company's bank accounts would be frozen, said Deepak Gurnani, Partner, JUST LEGAL Consultancy.
Indian widow: '˜Prepare for death or go through what I did'
Dubai: A 42-year-old Indian widow, who has yet to recover from the untimely death of her husband early this year, has chosen to make her ordeal public in the hope that other expats don't make the same mistakes.Former air hostess Sharmila Singh, based in Dubai, told XPRESS last week: Death should not be a taboo subject. We must prepare for the worst or else subject our families to what I went through.
Non-Muslim UAE expats advised to write will or face family disputes
Abu Dhabi/Dubai: Non-Muslims living in the UAE should make a will in case of death or undergo time-consuming procedures to ensure that the inheritance scheme is implemented according to their own country's laws, experts said. Failure to do so may result in family disputes, according to a report by the Ministry of Interior's monthly publication, 999 Magazine.
Expatriates advised to learn laws on wills
DUBAI // Expatriates in the UAE would be wise to understand the laws governing wills and inheritances, or they could end up facing a complex process as they navigate the aftermath of a spouse's death, legal experts and estate planners say. Mohammad Marria, an estate planner at Just Wills, a company based in Dubai, said many people do not understand the legal implications of such cases. "Your will is the most important piece of paper you will ever sign," he said. "It is your last wishes on how you would like your estate to be distributed, and it's not just about money and property; it is also about safeguarding the welfare of children.
Better to make a will to avoid legal hassles
Matters of the afterlife are not a favourite topic for many people, except probably for those in the death care business. But it's a serious issue that you should consider, especially if you are planning to invest or already have acquired assets in a foreign country.
How to save and prepare for death
A person's single and joint bank accounts will be automatically frozen upon death, leaving the family with no access to money. Having a bank account outside the jurisdiction of the UAE and home country means the family can withdraw money for survival and emergency expenses
Dubai: Huge Turnout at KEL Event on 'Importance of Wills for Expats in UAE'
Kanara Entrepreneurs Ltd (KEL), Dubai conducted a workshop on the topic "Importance of having a Will as an Expatriate in the UAE," at the India Club here on Satuday January 15. The three-hour session, anchored by Mohammad Marria, senior estate planner from Just Wills (the largest estate planning organization in the UK), proved successful with an overwhelming response to this event.
With no will there is no easy way