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In the United Arab Emirates, and specifically Sharjah, Estate Planning is an essential process that deals with the management and distribution of an individual's property during their lifetime and after their demise. It incorporates the creation of wills, trusts, powers of attorney, and other legal instruments to safeguard one's assets and ensure they are distributed as per their wishes, ensuring peace of mind in respect to succession matters.
Despite the straightforward nature of Estate Planning, its legal complexities and corresponding impact on your beneficiaries warrant professional legal help. A trained lawyer can guide you on structuring an effective estate plan, appointment of guardians, mitigating potential tax implications, and safeguarding against any legal disputes after your passing. Additionally, laws in the UAE can change quickly, and a qualified lawyer will ensure your estate remains compliant with the current legal framework.
Estate Planning in Sharjah operates under UAE Federal Law No. 5 of 1985, or the Civil Transactions Law, and Federal Law No. 28 of 2005, or the Personal Status Law, both of which outline legal procedures related to property management and inheritance matters. Foreign nationals residing in the UAE can also choose to have their home country law apply to their UAE-based assets upon their passing, a critical element to consider in your estate planning process.
Yes, foreign nationals may own properties in designated areas in Sharjah, in accordance with Real Estate Registration Law No. 3 of 2014.
Without a will, your assets in the UAE will be distributed according to UAE Inheritance Laws, which follows the principles of Sharia law.
Yes, however, it must be clearly stated in your will, and the applicable foreign law shouldn't contradict Islamic principles or UAE public policy.
No, as of now, the UAE does not impose any inheritance tax.
A DIFC Will is a will registered with the Dubai International Financial Centre, allowing non-Muslims to bypass Sharia law and distribute their assets according to their wishes.
The Department of Land & Real Estate Regulation in Sharjah and the UAE Federal Judicial Authority provide updates and valuable resources related to property and inheritance laws. Online resources like the UAE Government Portal offer details on legal procedures, while institutions like Dubai International Financial Centre (DIFC) have actionable insights regarding wills and estate planning.
If you require legal assistance for Estate Planning in Sharjah, begin by identifying a legal professional or legal firm specializing in UAE Estate law. Your chosen lawyer will guide you through the process, helping you to consider your assets, draft a will, and manage any other legal instrument necessary to ensure a sound and compliant estate plan in Sharjah, UAE.
