Important Things To Know About DIFC Wills In UAE
Dubai International Financial Centre (DIFC) is a financial-free zone in the United Arab Emirates (UAE) governed by its legal system and regulations. If you are planning to make a Will in the DIFC, it is important to understand the specific rules and regulations that apply to Wills in this jurisdiction. Here are a few key things to know about DIFC Wills:
DIFC Wills are governed by English law:
The DIFC is based on English common law, which also applies to Wills. This means that the principles and provisions of English law will be used to interpret and enforce DIFC Wills.
DIFC Wills must be in writing:
For a Will to be valid in the DIFC, it must be in writing. This means that oral Wills or Wills made through other means, such as by text message or email, will not be considered valid.
DIFC Wills must be signed and witnessed:
For a DIFC Will to be legally valid, it must be signed by the person making the Will (the testator) in the presence of two witnesses. The witnesses must also sign the Will in the presence of the testator and the presence of each other.
DIFC Wills can be changed or revoked:
A DIFC Will be changed or revoked at any time by the person making the Will as long as they are of sound mind and capable of making decisions. This can be done through a codicil (an amendment to a Will) or by creating a new Will.
DIFC Wills are subject to certain restrictions:
There are certain restrictions on what can be included in a DIFC Will. For example, it is impossible to completely disinherit a spouse or children, as they are entitled to a certain percentage of the estate under UAE law. It is also not possible to include provisions against public policy or illegal under UAE law.
In conclusion, it is important to understand the rules and regulations that apply to DIFC Wills to ensure that your Will is legally valid. By following the requirements for writing, signing, and witnessing a DIFC Will and being aware of any restrictions and potential challenges, you can help ensure that your wishes are carried out after your death.