Tag Archives: Wills in the UAE

Where there’s a will, there’s a way to protect your family

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I have published articles on this topic before but in light of the changes to the personal status laws in the UAE in 2020, this has been updated to cover the new rules. This also includes the minor amendments for 2022 and a change for Muslim expats in 2023.

If you have assets, and more importantly, if you have children, then you need a Will. This is a subject that many people are reluctant to address but there are many misconceptions and an all too common reluctance to talk about the relevant issues. In this article I want to set out a few facts and answer the most common questions.

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New personal laws in the UAE but what do they really mean for you?

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I am sure most people have seen the articles about some significant legislative changes in the UAE with changes to the penal code and personal status laws and these are very positive in all respects. In this article, I want to explain what this actually means in relation to the financial issues, as headlines are not always quite what they seem and there are subjects that still need to be considered and addressed by expats, especially in terms of the distribution of assets in death.

Let’s address the various points in turn.

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Five Financial Tips for New Parents

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When you have a child, you get lots of advice and tips from everyone but one area that tends to be overlooked is the financial aspect. In the excitement of impending parenthood, or the crazy first few months (or years!), you can forget this essential topic so this article is designed to be a useful guide to some of the issues you need to consider.

Multiple surveys have put the cost of raising a child at eye-watering levels over their first 18 years and expats working in the UAE have the added cost of education and medical bills to contend with. Let’s look at some of the financial practical steps you need to consider.

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New to Dubai? Important facts & financial information

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Welcome to Dubai and a new and exciting life. There is a lot to learn and while this is not a complete guide to setting up in Dubai, it does give you a useful overview of many of the financial and legal issues that new residents need to be aware of.

The laws have changed a number of times in recent years and this article is regularly updated to take these changes into account.

Your ability to live in the UAE is linked to employment and it is impossible to rent a property (apart from on a short-term basis) without a residency visa and accompanying identity card.

These will be provided by your employer or as part of the package when you set up a trade licence if you wish to have your own business. There are now a few other visa options but you still need a visa to reside in the UAE.

Having an identity card is mandatory and you will be unable to do many things without it.

You also need a visa and ID card to buy a car, rent a property, get a UAE driving licence, get an alcohol licence – still a legal requirement for Dubai residents if you want to buy alcohol anywhere and or keep alcohol in your home although there are no charges these days and you getget your licence online in minutes.

Children require an ID card to attend school.

The rules can vary between emirates, and although the main legal issues are correct for all, this guide is mainly for Dubai residents.

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Is your family financially protected if you die? Six common errors.

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If you die and leave your family behind, you can’t stop the heartache, but you can make sure that they don”t have financial worries, that they can stay in their home or have enough money to relocate, and that your children can continue their education. Protecting your family in this way, should the worst happen,  is one of the kindest things you can ever do for them.

There are various reasons why people don’t take out life cover so in this short article I want to address some of these.

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Where there’s a Will there’s a way to protect your family

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Due to changes in legislation, this article has been updated and rewritten to so please see the latest one.

Where there’s a will, there’s a way to protect your family

Thank you

 

 

UK Budget March 2020 – the facts for expats

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This is the first budget of this Government and the first by Chancellor, Rishi Sunak, less than a month after taking over at the Treasury.

This article is a brief overview of some of the main points with particular reference to any changes that have relevance to those living outside of the UK. The UK press will cover many points in detail but much of this is not directly relevant to expats so this article focuses of the relevant points for us. I have included specific measure related to COVID-19 as this has a significant impact on the economy and a wide-ranging, knock-on effect.

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Expats in The UAE & Money. 10 mistakes you want to avoid

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This articles has been update so please see the below link for the article from August 2024

Living in the UAE. 10 major money mistakes you want to avoid

Living in the UAE. 10 major money mistakes you want to avoid

 

 

 

UAE Public Holidays for 2020

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These are the official dates of public holidays for the UAE for the coming year, as well as notable dates, so you can make a note in your diary now and plan ahead. Actual days of holiday for both the public and private sector should be the same and these are the dates announced by the UAE Government.

As usual, dates of Islamic holidays will be subject to slight variation, dependent on moon sighting, and others may also change.

With this in mind, this article will be updated throughout the year as any changes are announced.

 

 

 Occasion Date Day of the week No. of Days
New Year’s Day January 1st Wednesday 1
Beginning of Ramadan* April 24th Friday 0
Eid Al Fitr* May 23rd Saturday 4
Arafat (Haj) Day* July 29th Wednesday 1
Eid Al Adha* July 30th Thursday 3
Hijri New Year’s Day* August 23rd Sunday 1
Prophet’s Birthday October 29th Thursday 1
Commemoration Day December 1st Tuesday 1
UAE National Day December 2nd & 3rd Wednesday & Thursday 2
*Islamic holiday dates are dependent on moon sighting and all are subject to confirmation and may change

 

I write articles such as this one as part of the holistic personal financial planning service and that I provide to expats, and the general consumer, financial and legal information that I provide in The National newspaper, on Capital Radio UAE, and on the Facebook group British Expats Dubai.

To arrange a meeting to discuss any aspect of your personal financial planning, please email me at keren@holbornassets.com     Please take a look at the other useful articles on this website.

Source: UAE Government Communications Office