As per a recent global report, more than eight out of 10 people in the world don’t have a written will. This means a vast and clear majority of human beings have turned their back on this important task of their life. According to another report, as the people grow older they become alive to the need of a legal will which details the distribution of assets after their death. The trend of having a legal will has witnessed an increase in the United Arab Emirates in the recent times as expatriates living and working in cities like Dubai and Abu Dhabi are keen to devise a plan for distribution of their assets in an event of their sudden loss of life. The legal experts have recorded a surge in wills in Dubai which is being termed as a positive sign.
You can get away without having a written will if you don’t have children or if you don’t possess any property or bank balance at all. You can also afford to stay without a legal written will if you’re happy with your closest blood relatives like parents and siblings getting rights over your property after your demise. Even if you don’t have anything to be distributed among your relatives or you don’t have the relatives to get the left behind assets, you should have a written well so that the authorities are aware of your preferred way of distribution of the left behind resources.
A basic thing to know about a written will is that it can’t cover all of your assets, especially if you’re maintaining a life insurance policy or certain types of bank accounts. However, mentioning one or more beneficiaries in the will can make the jobs of the authorities easier when you won’t be around to instruct about the proper distribution of the resources among your dear ones or other close relatives.
A legal written will gives you the chance to spell out how you want your assets and bank balance to be treated after your death. You can mention the names of beneficiaries and clearly state your intentions and aspirations about your assets. Getting the help of a legal expert will always make your job easier since he would be able to inform you about the right language, which isn’t ambiguous and dubious and doesn’t have double meaning. This would help the authorities to perfectly understand your intentions after your demise.
You can always get information about the DIFC wills and probate registry by clicking on the attached link.