Anyone with any kind of assets. For example:
1. Salaried: To protect your death-in service benefits, Gratuity payment, salary account, bank accounts (single or joint) and lastly any other class of assets.
2. Business Owners: To protect your company, company bank accounts, company assets, personal assets, personal bank accounts and lastly any other class of assets.
3. Parents: To protect their minor child / children (by appointing guardians).
4. Property Owners: Anyone i.e. residents or Non- residents / investors owning properties in the UAE also needs to have a WILL in order to secure their assets to avoid unfavorable distribution of assets as per the default inheritance law of the country i.e. SHARIA LAW.
No other person is liable for the liability of the deceased but the Estate of the person is.
The general rule is that all debts must be paid before any assets are distributed. Your outstanding loans, for instance, are generally paid before any money or gifts are distributed to your heirs.
An exception to this general rule is for "secured debts," that is, debts that allow the lender to take possession of a specific piece of property if the debt is not repaid. Examples of such secured debts are mortgages or auto loans. If a piece of property is collateral for a secured debt, that property can be distributed, but the debt will generally go with it. For instance, say you have a car worth $10,000 and a loan on the car of $5,000. You can leave the car to someone in your will, but it will be that person's obligation to pay off the loan.
Yes, you can. Appointing more than one executor is always helpful.
