Why is Updating Your Will Necessary in the UAE?

As we know, making a Will in the UAE, gives your assets the much-needed protection, and without a doubt, some peace of mind for you. Though you have now taken a huge leap toward protecting your family’s future, there’s more to be done. We are talking about the periodic reviews and updates that your Will may need. It is crucial to know that you can easily amend the Will you registered in the UAE. While a DIFC Will can be amended directly, an ADJD Will needs to be re-registered if you wish to update it. Through this blog, we will shed light onto some scenarios that call for updates for your UAE Will.

Change in Circumstances

As life goes on, our circumstances inevitably change. Occasions like marriage or child birth can be the happiest moments of our lives and bring in some profound changes. For some, major milestones in life can be the arrival of grandchildren or adoption of a child. While these events call for celebrations, they even necessitate updating your Will. Take, for instance, as you welcome your child, you will be required to spell out instructions pertaining to guardianship and asset inheritance for the child.

It may also happen that the life event turns out to be an unfortunate one. The death of a loved one, though unbearably painful, may call for actions to be taken with regards to inheritance planning. If the individual was a beneficiary, you may reconsider your distribution plan. And, if the individual was an executor or a guardian, you’d need to state their replacement.

It’s also highly probable that the individual you chose as your executor, no longer resides in the UAE, or is now aged and no longer capable of handling a responsibility as significant as managing your estate. The same applies to the individual you initially chose as a guardian for your minor children. For instance, it is common to appoint the child’s grandparents as guardians. Since these individuals are progressing in age, it is necessary to reconfirm if they are still comfortable to take on this responsibility.

Hence, it is necessary to ensure that the individuals you once appointed, still stand as the best possible choices for these key roles, and if not then an update in your Will in the UAE would be required.

Acquiring New Property

With time, you are likely to invest in and own new assets. This could be a new apartment, or gold ornaments, or some other kind of asset. Regardless of what the asset is, it must be accounted for in your UAE Will and almost any movable or immovable property can be covered in your Will. Needless to say, the addition of any asset to your Will shall also accompany the mention of the beneficiary who stands to inherit it. If you prefer selling your property rather than passing it to your beneficiaries, may also state the relevant instructions within your Will in Dubai, or elsewhere in the UAE. This way, by updating your Will, you can eliminate any possible confusion or ambiguities surrounding the inheritance of your assets in the future. In the UAE, a DIFC Will is your best option if you wish to include any assets owned overseas. However, this is subject to legal advice as laws vary across jurisdictions.

Change in Relationships

Relationships change over time. Divorces and remarriages are fairly common. As an example, you most likely won’t bequeath assets to your now ex-wife. This means if your relationships have evolved, your Will must reflect it as well. Besides, estrangements or reconciliations with siblings and parents can also influence your wishes. Though it may sound unfortunate, it is very much possible for you to not share the same relationships with the people you listed as beneficiaries years ago. It may also happen that you now have new people in your life that you feel can be beneficiaries, and you can accordingly update your Will. Moreover, your changing relations may also necessitate updating of the guardians and/or executors appointed in your Will. Are these the people you would still want to look after your children in the event of your untimely death? Do you still trust the individual you appointed as the executor to handle distribution of your assets? These are some important questions to ask yourself.

Legal Inz is a licensed provider of Will writing services in the UAE, and can seamlessly assist you to write or update your Will.