Top Reasons to Prepare a Will in UAE
There are many reasons to prepare a will in UAE. You can be sure that your wishes are being looked after, and you can see your valuables being protected by the law of the country. This is your right as a private citizen of the UAE or the United Arab Emirates. It is not something you can take for granted. You may find it handy in the future if you need to claim your estate or assets from any given family member or relative.
When you die, your loved ones may want to move in with you, or they might take over your properties. You may decide to leave this responsibility in the hands of your children or a trustee. A will can also be prepared in case of extreme situations, such as when you pass away without a male heir apparent. Your family can be provided with funds to manage their properties and inheritance in Dubai. They won’t have to wait until the last moment.
A will can be prepared in many ways depending on your needs and the laws of the country you live in. For example, you can choose to prepare a personal Will. This can be done by hiring a lawyer to draw up your own Abu Dhabi Will. In this document, you can state everything that you do not want the property or assets to be distributed to your family members or any third parties. In addition, the lawyer can draft the stipulations on how the property or assets can be transferred to the beneficiaries.
A Power of Attorney is another option available. This is a document that permits someone to act on your behalf. This can be done by a person whom you trust and who is an absolute owner of your property. However, it cannot be used as a legal document to transfer ownership of your property. It can only be used to grant someone the authority to manage your property in your absence.
The last resort is to hire a good estate agent to handle the property for you. This way, you do not have to worry about who will handle your property and whether they are reliable or not. However, this can cost a lot. Usually, estate agents charge a percentage of the property value when selling a property.