More expats execute wills to protect assets, savings in Dubai

Dubai: A growing number of expatriates and investors in Dubai are taking legal steps to ensure their assets in the country, as well as their savings and other investments, are distributed according to their wishes after they’re gone.

The DIFC Wills & Probate Registry (W&PR) reported on Monday that a total of 1,000 wills have been drafted so far since March 2015. Topping the list of will registrants are UK nationals (30 per cent) and Indians (27 per cent), also considered the leading investors in Dubai’s real estate.

Property buyers from the United Kingdom and India poured Dh10 billion and Dh20 billion, respectively, in Dubai’s real estate in 2015, just behind the investments made by nationals from the Gulf Cooperation Council (GCC) region.

The majority of the wills registered last year were executed by couples, highlighting the need for partners to make provisions for the handling of shared assets.

Source