What happens if I die in UAE?
Most of us say, ‘I do not need a Will. I am not going to die tomorrow.’
You must ask yourself: WHAT HAPPENS IF I DIE IN UAE WITHOUT A WILL?
In line with the Sharia principles, your assets will be frozen if you die in UAE. That means all your bank accounts, ATM cards, your fixed deposits, properties and other financial belongings. If your dependents are on your visa that gives them effectively 30 days to settle things in UAE.
That is incase if you do not have a Will.
If you have made a Will, all your assets will be distributed to the heirs, post settlement of any outstanding debts that you have. Incase of the death, the legal heirs should file a petition in the courts for the release of the assets. It is only after a scrutiny, that the assets will be released. In short, if you have no Will, then your family might get into a bit of trouble.
It depends on the kind of case that you present and might take upto six months if the necessary documents are not provided. It is good to understand that incase you die your assets will not automatically be transferred to your Spouse but will divided among brothers, parents, spouse and children.
Please note that Sharia Law is the Law of the land and any other laws of the world do not take precedence over it.
What is the Solution?
All your questions related to your estate planning have to be routed through a Lawyer, financial advisor. But there are other basic things that you can do:
- First of all, get a Will done in the name of whosoever that you want your estate to go to. (Contact me for my address!)
- Move most of your money offshore and have a proper nominee for the account. This ensures that majority of the money is safe in your country or wherever you deem it to be safe.
- Having you spouse or wife as a joint account holder won’t help as the bank account will be frozen irrespective of this.
- Take a life cover for in your name with beneficiary as your family or spouse. This helps them in securing the future when there is an uncertainty.
First things on anyone’s death, the concerned UAE authority sends message to the respective consulate in order to confiscate the passport and also the banks so the bank accounts can be frozen. Remember, Sharia Law is very straight forward; if you do not have a Will, your family might be in real trouble.
Guess these points help.
What happens if I Die in UAE? : Presentation
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