A DIFC will is a legally recognized document that allows a non-Muslim testator to explicitly mention the distribution of the assets such as properties, financial assets, and businesses to beneficiaries. The initiative taken by the DIFC Courts seeks to protect non-Muslims’ interests by allowing them to draft a Will and control the distribution of their assets, mainly their estates. Note: failure to register a valid and recognized Will in UAE will allow the courts to apply the UAE Law of Inheritance, governed by the Sharia Law in the distribution of assets after the death of an individual. A Will lawyer in Dubai can provide legal advice to prepare a suitable Will, as well as assist in drafting the Will as per the requirements of the testator and concerned authorities.
Understanding a DIFC Property Will
The DIFC Courts have an independent jurisdiction that offers non-Muslims ability to register their Wills with the DIFC without having to comply with the Sharia law in the UAE. These Wills allow an individual to distribute the estate to the nominated and appointed executors and beneficiaries, as per the testator’s wish instead of following the Sharia law, to which the testator may be subject to in the absence of a valid and recognized Will in the UAE.
The DIFC seeks to provide a user-friendly process for registration of a property Will. The Wills and Probate Registry also ensure quick results for the registration and signing of the Will, for its execution upon the death of the testator.
The initiative taken by the DIFC, allows non-Muslims to register their Wills, even if they do not have residency in the UAE. However, if an individual seeks to register their Will in the region, he/she should own at least a movable or immovable asset, or have minor children residing in the UAE.
DIFC Property Wills allow individuals to include various assets and distribute the estate situated in the UAE or overseas. The DIFC Courts have introduced the latest provisions that allow an individual to include both movable and immovable assets located within or outside the UAE.
The DIFC Wills and Probate Registry has also restricted any estate tax to be imposed on the assets located in Dubai that have to be divided between the executors and beneficiaries as per the Will.
Few requirements for registering a Will with DIFC
The latest amendments to the DIFC laws have increased the number of Will and Probate applications in the last few months. It is necessary for non-Muslim individuals to seek help from lawyers to draft their Wills and register them with the DIFC Will and Probate Registry. HHS Lawyers can provide assistance in drafting a Will as per the testator’s wishes, as well as provide legal advice and consultations when required.