DUBAI, 20th January, 2016 (WAM) — The Dubai Business Women Council, DBWC, has started the New Year with a Network Majlis entitled, “Wills, Guardianship and Custody” in collaboration with Nida Chaudhry from TWS Legal Consultants.
“Personal legal coverage is an important yet very ignored topic in Dubai, especially since we have a large expat community and one which is very mobile,” said Dr. Raja Easa Saleh Al Gurg, President of DBWC. “Through sessions like these, we encourage our members to stay informed about the legalities of the UAE in order to protect themselves and those closest to them as laws vary between countries and may differ from what they are accustomed to back home.”
The session introduced the topic of estate planning, why it is relevant in Dubai, and what happens if one dies without a Will. Furthermore, Nida covered the UAE Inheritance rules and how they apply to Muslims and Non-Muslims while she also discussed the legal tools available for protecting assets and families in the UAE.
There are a number of options available for estate planning in Dubai, which have been created and accepted legally to cater for the growing demands of a diverse population. During the Majlis, TWS Legal Consultants covered all of the options available, including the new DIFC Will, the historically used option being the UAE Will, and for Muslims, the Sharia Will, ensuring all members interests are discussed.
Nida explained it is important to understand each of these options and also what may and may not be included in the Will, the advantages and disadvantages of each, and the process and costs involved in obtaining a Will, alongside Guardianship concerns and how these may be addressed in each of the Wills.
“My objective of the session was to provide the members with clarity as to how to protect their assets and provide for appropriate guardianship of their children, and also, to understand what specific Will is most suitable for their situation,” concluded Nida.