Creating a will in the Dubai International Financial Centre (DIFC) gives you control over your assets under a modern, common-law legal framework. However, the process requires careful attention. Avoiding common errors ensures your wishes are clear and your estate passes smoothly to your chosen beneficiaries.
This article outlines key pitfalls to sidestep when preparing your DIFC Will.
Ignoring DIFC’s Specific Scope:
A frequent mistake involves assuming a DIFC will covers all worldwide assets. The DIFC Wills and Probate Registry rules apply only to assets explicitly listed within the will that fall under the DIFC’s jurisdiction. This typically includes financial assets in DIFC accounts and real estate located in the DIFC itself. If you own property elsewhere in the UAE or hold assets in other international jurisdictions, you likely need separate wills for those locations. Failing to coordinate these documents can create conflicts and delays.
Using Vague or Incorrect Descriptions:
Clarity in describing assets and beneficiaries is non-negotiable. Listing “my bank account” or “my Dubai property” lacks the necessary detail for execution. Instead, provide specific account numbers, financial institution names, and property title deed numbers. Similarly, identify beneficiaries with full legal names and their relationship to you. Ambiguity invites disputes and complicates the executor’s role.
Overlooking Legal Formalities:
The DIFC Registry sets strict execution requirements. Your will must be signed in the presence of two independent witnesses and a DIFC-authorized officer. These witnesses cannot be beneficiaries or spouses of beneficiaries. Some individuals make the error of having an interested party witness the document, which risks invalidating specific bequests or the entire will.
Neglecting Executor and Guardian Appointments:
Your executor manages your estate’s administration. Choose someone competent, willing to serve, and familiar with cross-border affairs if needed. Appointing a sole executor without naming a substitute can cause problems if your first choice cannot act. For parents, a critical mistake is failing to name a legal guardian for minor children within the will. The DIFC courts consider such appointments, and your clear instruction provides crucial guidance.
Failing to Update Your Will:
Life events like marriage, divorce, the birth of a child, or acquiring significant new assets make reviewing your will essential. An outdated document may distribute assets in a way that no longer reflects your intentions or family structure. Schedule regular reviews of your DIFC will to keep it current.