Estate Planning

Estate Planning

Will Planning:

Estate planning secures peace of mind for your loved ones or those who hold great significance in your life.  It is important to know that the nest egg you have accumulated during your lifetime will not erode. 

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It's important for you to do an estate plan. If not, other entities, such as the government, is going to make decisions for you, and the people you love are not going to receive all of your estate, or maybe none of it, if you don't have a plan.

A valid will is the cornerstone of any estate plan. In your will, you can outline how you want your assets distributed, arrange for the ongoing care of your dependents, name guardians for your minor children, or make a bequest to charity

Planning your estate ensures your assets go where you want them to, in a timely fashion and with less risk of argument or legal challenge. While it can be hard to think about your own mortality, being prepared and planning for what will happen to your finances, savings, property and the people and things you hold dear is too important to ignore.

For expats living in UAE, there is a very simple reason to make a will. The Government of Dubai’s official website states, “The UAE Courts will adhere to Sharia law in any situation where there is no will in place.” 

Planning for Incapacity

The final component of your estate plan should address potential situations where you may become physically or mentally incapacitated. This is achieved by creating an enduring power of attorney. Without an enduring power of attorney, your attorney (not necessarily your lawyer or notary) cannot act on your behalf during a period of incapacity until they receive court approval.