Making a will is an essential step in securing your assets and ensuring your loved ones are taken care of after your passing. In the United Arab Emirates (UAE), the procedure for writing a will is subject to specific rules, and the cost involved can vary depending on a number of factors. In this comprehensive guide, we will explore the intricacies of making a wills UAE, providing you with insights into the expenses associated with this crucial legal document.
Understanding the Importance of a Will
Before delving into the costs, let’s briefly discuss why having a will in the UAE is so vital. A will allows you to:
Ensure Asset Distribution
A will allows you to specify how your assets should be distributed among your beneficiaries, ensuring your wishes are honored.
If you have children, a will enables you to appoint guardians who will take care of them in case both parents pass away.
A properly drafted will can help prevent disputes among family members over the distribution of assets.
Factors Influencing the Cost of Making a Will in UAE
The cost of creating a will in the UAE can vary based on several factors. Here are some of the key considerations that can impact the overall expense:
1. Complexity of Your Assets
The more complex your assets and financial holdings are, the more time and effort it will take to draft a comprehensive will. This can lead to higher legal fees.
2. Choice of Legal Advisor
The cost of hiring a legal advisor or a law firm to assist you in drafting your will can vary. Some advisors charge a flat fee, while others charge hourly rates.
3. Number of Beneficiaries
The more beneficiaries you have, the more detailed and potentially complex your will may become, which can impact the cost.
4. Legal Fees and Notary Charges
In the UAE, wills need to be notarized. You’ll need to consider notary fees in your budget, in addition to legal fees.
5. Language of the Will
If your will needs to be translated into Arabic (the official language of the UAE) from another language, translation costs may apply.
Understanding the Cost Breakdown
Now, let’s break down the potential costs involved in creating a will in the UAE:
Legal Advisor Fees
On average, legal advisor fees for drafting a standard will in the UAE can range from AED 2,000 to AED 5,000 or more, depending on the complexity of your situation.
Notary fees can vary depending on the emirate in which you reside but typically range from AED 500 to AED 1,500.
If your will needs to be translated into Arabic, translation fees may add another AED 1,000 to AED 2,000 to your expenses.
In conclusion, the cost of making a will in the UAE can vary widely depending on your individual circumstances and needs. It is crucial to consult with a qualified legal advisor who can provide you with an accurate estimate based on your specific situation. While there are expenses associated with creating a will, the peace of mind it provides and the protection it offers your loved ones make it a worthwhile investment.
If you’re ready to secure your legacy and protect your assets in the UAE, don’t hesitate to take action. Consult with a legal expert and start the process of creating your will today. Know more wills in abu dhabi