If you are an expat living in the UAE and have no Shariah Will in place, then you are in danger of having your assets frozen and distributed by the UAE government under Shariah law. This is a shocking revelation, and to add fuel to the fire, only about 55% of people have a will.
According to Shariah law, if you pass away whilst living or working in the UAE and have no recognised will, then all your UAE assets could be frozen and seized by the government. This could include any life insurance policies you have that would normally pay out immediately to family members.
The UAE-Government will distribute your assets according to Shariah law, and not your last wishes.
This could leave your spouse without any financial support and possibly only receive a small portion of inheritance when the estate is settled.
Even joint bank accounts would be frozen, and there would be no access to funds for living expenses or childcare. Make sure your spouse has a separate bank account with funds in.
Your UAE owned property could also be divided amongst family.
Visa’s could be cancelled if tied to a spouse’s visa.
There is also the question of guardianship over your minor children. Without a will, the government will decide who becomes their legal guardian.
Always ensure that you have nominated beneficiaries for all your policies, and state in your will who will have legal guardianship over your minor child.
It is recommended that you speak to a deVere-Acuma consultant to guide you through the legalities of Sharia law and the process of drawing up a Sharia Will. [email protected]
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deVere-Acuma is one of the worlds largest international financial services consultancies, with locally based knowledge and expertise to assist you with financial matters including Sharia Wills.
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