Due to changes in legislation, this article has been updated and rewritten to so please see the latest one.
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Where there’s a Will there’s a way to protect your family
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Category Archives: Wills
Sharia law & your money in the UAE
Whilst most people are aware that Sharia law is the legal framework used in the GCC countries, not all expats have realised that this can affect them and their money.
- Did you know that on death your bank accounts and assets in the UAE will be frozen?
- Did you realise that your spouse, or other family members, may not get access for many months? Or that they may only get a small percentage?
- Are you aware that your assets may not automatically go to your spouse?
November 2020. Some information in this article has been superceded by new legislation so please see this article for the lastest details regarding the laws on death while in the UAE:
New personal laws in the UAE but what do they really mean for you?
News: Beneficial changes for DIFC Wills
The DIFC Wills Service Centre (formerly called the DIFC Wills and Probate Registry) has confirmed changes to the rules (the Amendments) which will come into effect from 30th June 2019. This is good news for anyone with UAE assets.
There are two major changes, summarised as follows:
Need to know: Your financial priorities
Many of us muddle through our financial lives, not focusing on what matters the most, so this article is designed to help you sort out your financial priorities.
You have probably thought that there are some issues you need to address but it is common to be stuck in limbo, not quite sure what to tackle first, or a to have a vague to-do list but are unsure where to start.
I am often asked what are the most important topics to focus on so this is a guide to what you may need to look at if you haven’t reviewed your personal finances before, or haven’t done so for some time. What should you do now and what is most important?
All too frequently I see people who have been sold long-term savings plans without having been given the right advice to address more immediate issues. The most important consideration is to focus on what could go wrong tomorrow and then to take steps to protect you and your family. This doesn’t have to be expensive but this is what proper, ethical, financial planning is all about.
2018 – how will it be for you & your finances?
There is no doubt that we live in interesting times on many levels and naturally people will have financial concerns. High on the list of worries is the potential adverse effect of a geopolitical event but it is the potential repercussions of this and how issues impact us locally and well as globally that we need to consider. There is not much most of us can do about these global issues but we can take steps to protect ourselves and our families.
Life in the UAE has its own pressures and challenges and whilst there is usually a lot of optimism, right now there are issues facing us. It is no worse here than in the rest of the world but being an expat can have its own demands. To find out what UAE residents are thinking and feeling as we start the new year, I put together a survey and this article is about the results. All responses were anonymous.
How to focus on your financial priorities
Many of us muddle through our financial lives, not focusing on what matters the most, so this article is designed to help you sort out your financial priorities.
You have probably thought that there are some issues you need to address but it is common to be stuck in limbo, not quite sure what to tackle first, or a to have a vague to-do list but are unsure where to start.
I am often asked what are the most important topics to focus on so this is a guide to what you may need to look at if you haven’t reviewed your personal finances before, or haven’t done so for some time. What should you do now and what is most important?
All too frequently I see people who have been sold long-term savings plans without having been given the right advice to address more immediate issues. The most important consideration is to focus on what could go wrong tomorrow and then to take steps to protect you and your family. This doesn’t have to be expensive but this is what proper, ethical, financial planning is all about.
Need to know: New to Dubai? Important financial information
This article has been superseded by one published on 25th August 2020
New to Dubai? Important facts and financial information
Where there’s a Will there’s a way to protect your family
This article has been superseded, Please see this revised one. published 30th March 2020
Where there’s a will, there’s a way to protect your family – March 2020
As with most matters, personalised advice is required based on your specific situation. To arrange a meeting to discuss arranging a Will, or for advice on any other personal financial planning issue, please email me at keren@holbornassets.com
Protecting what matters most – your family
If you have children there is no question that they are the most valuable thing you can think of. So have you done all you can to protect them?
How would your family manage if you died and your income was lost? How would they manage without you to take care of them?
Would they be able to maintain their standard of living? Would your children’s education remain unaffected? Would any outstanding loans or debt be repaid?
These are all big questions and not ones we like to think about but tackle them now, take the right steps, and then you can relax knowing that if the worst should happen they will at least be financially secure.
Money does not replace a beloved husband or wife or a parent, but it’s even worse if those left behind are worrying about money and how they’ll manage. These are not subjects that we want to think about but the kindest action is to take the right steps to safeguard your family should the worst happen.
These are some of the issues you need to consider.