May 22, 2024

Navigating The Costs Of Crafting A Will In Dubai

2 min read
Navigating The Costs Of Crafting A Will In Dubai

Creating a will is a crucial step in ensuring that your assets are distributed according to your wishes after your passing. The cost of making just wills Dubai can vary depending on several factors. Understanding the potential expenses involved can help you make informed decisions while securing your legacy.

Factors affecting the cost

The complexity of the Will

The complexity of your will plays a significant role in determining the cost. A straightforward will with simple instructions may be less expensive to draft and execute compared to a more intricate will involving multiple beneficiaries, assets, and specific requests.

Type of legal professional

The choice of legal professional or law firm to assist you in drafting your will will impact the cost. Established and experienced law firms might have higher fees, while smaller firms or individual practitioners might offer more competitive rates.

Additional services

If you require additional services such as financial or tax planning, the cost of making your will may increase. These services can add value by ensuring that your assets are distributed efficiently and tax implications are minimized.

Review and updates

Regularly reviewing and updating your will is advisable. Some legal professionals may charge separate fees for reviewing and making amendments to your will over time.

Type of will

Dubai offers two types of wills under the DIFC Wills and Probate Registry – Full Wills and Guardianship Wills. The cost may vary depending on the type of will you choose and the complexity of your circumstances.

Understanding the components of cost

When considering the cost of making a will in Dubai, it’s important to be aware of the various components that contribute to the total expenses:

Legal fees

This is the fee charged by the legal professional or law firm for drafting, reviewing, and executing your will.

Registration fees

If you choose to register your will with the DIFC Wills and Probate Registry, there will be associated registration fees.

Additional services

If you require financial planning, tax advice, or any other specialized services, these may come with their own fees.

Notarization fees

Some documents related to the will, such as power of attorney or affidavits, may require notarization, which can incur additional costs.

Choosing wisely

While cost is an important consideration, it’s crucial not to compromise on the quality and legitimacy of your will. Choosing a reputable and experienced legal professional or law firm ensures that your will is drafted accurately and adheres to the legal requirements of Dubai.