Basic things to know before making a will
What is a will? Why should we consider making a will in Dubai? These are the major points that we should know about. How is it work? A will, sometimes know as a “testament,” is a document that states your final wishes. It read out by county court, county court makes sure, it will proceed till the end successfully.
WHAT DOES A WILL DO?
People are using will as an instruction, what should happen with their property when they will die? Will can use like this.
· Name as an executor.
· Name guardians of children and their property.
· Determine the dept., how it will be paid if it is there.
· Provide for pets.
· Serve as a backup to a living trust.
Better if you put some conditional statement regarding their property/ money, other valuable stuff.
1. Put condition on your gift, for instance (I give my land to maria when she finishes her degree/ education or a certain level of age).
2. Make a statement for final arrangement. or formality as per your culture.
3. Leave some property/ money for your pets if you have it.
4. Arrange for your property/ money if you left in another way, (property in trust / another beneficiary of death.
THE WAY TO WRITE A WILL:
Either you write a will / or you hire a lawyer to write your will. If you want to write a will, you can use will templates that will help you. Various templates are available online. There is no need to use magic words for a will. Many will tools are available on the internet. Use clear/proper words to explain your wishes.
- Do u want several executors will work together?
- Do you want to name guardians for your children or their property?
- Do u make a list of trust for your children, so that they receive their property when they will get older than 18?
- If you want to disinherit to your spouse and child.
- Are you worried that if somebody challenges your will?
- What to get control of your property after your death.
- Are you worried about state taxes?
These are the professional points, and you need professional help. Wills rules are varying from state to state. Basic and international rules are the same. Before preparing a will,, you have to knowledge your state’s rules for will and of DIFC Probate.