--- title: Day-15 - A Will in Time description: A Will in time can protect what you created over a lifetime! It can also ensure that your children are in the custody of someone you trust. image: https://www.financialplanningindubai.com/hubfs/Day%2014%20-%20Will%20in%20Time-2.png --- [![Financial_Planning_in_Dubai_logo](https://www.financialplanningindubai.com/hs-fs/hubfs/Financial%20Planning%20in%20Dubai%20Logo_9090-2.png?width=90&height=90&name=Financial%20Planning%20in%20Dubai%20Logo_9090-2.png "Financial_Planning_in_Dubai_logo")](https://www.financialplanningindubai.com/?hsLang=en-gb) - [Home](https://financialplanningindubai.com/) - [Blog](https://www.financialplanningindubai.com/blog) - [Services](https://www.financialplanningindubai.com/services) - [Islamic Investments & Takaful Plans](https://www.financialplanningindubai.com/blog/salama-hyat-plus-takaful-plan) - [Medical Insurance](https://www.financialplanningindubai.com/blog/topic/medical-insurance) - [Free Resources](https://www.financialplanningindubai.com/free-finanical-tools) - Tools - Calculators - [S&P 500 Investment Calculator](https://financialplanningindubai.com/sp-500-investment-calculator/) - [Life Insurance Calculator](https://www.financialplanningindubai.com/life-insurance-calculator) - [SIP Calculator](https://financialplanningindubai.com/sip-calculator/) - [Lumpsum investment calculator](https://www.financialplanningindubai.com/lump-sum-investment-calculator) - [Inflation Calculator](https://www.financialplanningindubai.com/inflation-calculator-uae) - [Net-Worth Calculator](https://www.financialplanningindubai.com/blog/free-personal-balance-sheet-template-networth-statement) - [The Best Budget Planner for Expats](https://www.financialplanningindubai.com/expat-budget-planner) [Book A Discovery Call](https://www.financialplanningindubai.com/meetings/damodhar?hsLang=en-gb) # Day-15 - A Will in Time ![Damodhar Mata](https://app.hubspot.com/settings/avatar/e63bc971ec29ebe6c012fd042c1a8215) [Damodhar Mata](https://www.financialplanningindubai.com/blog/author/money-mata-aka-damodhar-mata) 24 Jan 2023, 10:10:37 A Will in time can protect what you created over a lifetime! Welcome to Day 15 of the [Win With Money Challenge.](https://www.financialplanningindubai.com/blog/30-days-win-with-money-challenge?hsLang=en-gb) Yesterday we discussed that ignorance is not an excuse to neglect [your taxes](https://www.financialplanningindubai.com/blog/day-14-know-your-taxes?hsLang=en-gb) because the implications can be severe. Today's task is planning for a crucial aspect that many ignore, and you cannot afford to, especially if you; #### Own a Property in the UAE > "The New Amendment of 2020, addressing the option of home country law for distribution after death, does not apply to real estate. In such a situation, your assets will be distributed as per Sharia Law under Article 17(5) of the Civil Code. Real estate may only be distributed to a beneficiary of your choice if you have a Will in place that names the beneficiary." -[https://hhslawyers.com](https://hhslawyers.com/blog/non-muslims-expats-must-write-will-even-uaes-inheritance-law-changed/) #### Have minor [children](https://www.financialplanningindubai.com/childrens-education-planning?hsLang=en-gb) below the age of 21 You can appoint both permanent and temporary legal guardian(s) to ensure that your children are in the custody and care of someone you trust. #### You are a business owner, partner, or director of a business.  > As a business owner, it's very important to consider business succession planning as part of the Wills process. Besides designating who is to benefit from your estate or shares, your Will also appoints your chosen executors responsible for administrating your estate on death." - [https://www.willsuae.com](https://www.willsuae.com/why-do-i-need-a-will-in-the-uae-top-5-tips/) #### Prefer hassle-free distribution of your estate  > It is mandatory for everyone to complete the probate process regardless of whether the deceased does or does not leave a Will behind. However, the process of probate is made easier with a UAE registered Will." - [https://www.legalinz.com/](https://www.legalinz.com/blog/4-key-issues-that-explain-the-importance-of-will-in-uae/) #### ![Will in Time-2](https://www.financialplanningindubai.com/hs-fs/hubfs/Will%20in%20Time-2.png?width=740&height=400&name=Will%20in%20Time-2.png) #### How to draft and register a Will in the UAE? A qualified lawyer can draft a will for you in the UAE. They can help you decide under which jurisdiction you must register your Will. They can also help you review your Will periodically in line with the changes happening in your life or preferences. Benjamin Franklin said, > *"If you would not be forgotten as soon as you are dead, either write something worth reading or do things worth writing."* I want to add the following to the above; If you have created something worth writing, you must write a will.  Additionally, having [Whole of Life Insurance](https://www.financialplanningindubai.com/blog/2015/04/23/whole-of-life-insurance?hsLang=en-gb) will provide the following benefits; 1. Protect your legacy from debtors by ensuring adequate funds are available to pay off your personal and business debt. 2. Enhances your Legacy 3. Estate Equalization 4. Most cost-efficient legacy creation 5. Quick access to claim to proceed If you are a business owner or partner, a [Keyman](https://www.financialplanningindubai.com/keyman-insurance?hsLang=en-gb) or Partnership Insurance can go a long way in protecting your business interests.  ![Damodhar Mata](https://app.hubspot.com/settings/avatar/e63bc971ec29ebe6c012fd042c1a8215) [Damodhar Mata](https://www.financialplanningindubai.com/blog/author/money-mata-aka-damodhar-mata) Author, Blogger & Independent Financial Advisor. My goal is to give you actionable tools for creating passive income and building wealth. More than 10,000 expats have already used my ideas to jumpstart their journey towards financial independence. Connect with me to start yours... Share this article on [mailto:?subject=Check%20out%20Day-15%20-%20A%20Will%20in%20Time%20&body=Check%20out%20https://www.financialplanningindubai.com/blog/day-15-a-will-in-time](mailto:?subject=Check%20out%20Day-15%20-%20A%20Will%20in%20Time%20&body=Check%20out%20https://www.financialplanningindubai.com/blog/day-15-a-will-in-time) ##### Read more - [The Real C-Suite – The Only Title That Matters 🏆](https://www.financialplanningindubai.com/blog/breadwinner?hsLang=en-gb) - [The Wealth Secret 99% of Investors Ignore – Will You?](https://www.financialplanningindubai.com/blog/the-iceberg-of-investing?hsLang=en-gb) - [From Risk to Reward? The Shifting Case for China Investing](https://www.financialplanningindubai.com/blog/from-risk-to-reward-the-shifting-case-for-china-investing?hsLang=en-gb) ## Further Reading [![11 Powerful Financial Questions to make you wealthy](https://www.financialplanningindubai.com/hs-fs/hubfs/11%20Powerful%20Financial%20Questions%20to%20make%20you%20wealthy.png?width=300&name=11%20Powerful%20Financial%20Questions%20to%20make%20you%20wealthy.png)](https://www.financialplanningindubai.com/blog/11-shrewd-questions-to-enhance-your-financial-well-being?hsLang=en-gb) ###### [Financial Adviser Dubai,](https://www.financialplanningindubai.com/blog/topic/financial-adviser-dubai)[Financial Advisor in Dubai](https://www.financialplanningindubai.com/blog/topic/financial-advisor-in-dubai) ##### [11 Powerful Financial Questions to make you wealthy](https://www.financialplanningindubai.com/blog/11-shrewd-questions-to-enhance-your-financial-well-being?hsLang=en-gb) *If you want to change your life, become, wealthy, healthy or happy, you must start with asking...* [Read More](https://www.financialplanningindubai.com/blog/11-shrewd-questions-to-enhance-your-financial-well-being?hsLang=en-gb) [![Money for Life - Workshop on Lifetime Cashflow Planning](https://www.financialplanningindubai.com/hs-fs/hubfs/Money%20For%20Life%20.jpg?width=300&name=Money%20For%20Life%20.jpg)](https://www.financialplanningindubai.com/blog/money-life-workshop-lifetime-cashflow-planning?hsLang=en-gb) ###### [Financial Planning,](https://www.financialplanningindubai.com/blog/topic/financial-planning)[Investments,](https://www.financialplanningindubai.com/blog/topic/investments)[seminar](https://www.financialplanningindubai.com/blog/topic/seminar) ##### [Money for Life - Workshop on Lifetime Cashflow Planning](https://www.financialplanningindubai.com/blog/money-life-workshop-lifetime-cashflow-planning?hsLang=en-gb) ## Knowing how much you can spend today, and the effect it can have on your future wealth can be... [Read More](https://www.financialplanningindubai.com/blog/money-life-workshop-lifetime-cashflow-planning?hsLang=en-gb) [![How to choose the right investment in UAE?](https://www.financialplanningindubai.com/hs-fs/hubfs/Stock%20images/Businessman%20standing%20in%20front%20of%20opened%20doors%20and%20making%20decision.jpeg?width=300&name=Businessman%20standing%20in%20front%20of%20opened%20doors%20and%20making%20decision.jpeg)](https://www.financialplanningindubai.com/blog/how-to-choose-the-right-investment-in-uae?hsLang=en-gb) ###### [Investing in UAE](https://www.financialplanningindubai.com/blog/topic/investing-in-uae) ##### [How to choose the right investment in UAE?](https://www.financialplanningindubai.com/blog/how-to-choose-the-right-investment-in-uae?hsLang=en-gb) ### The following are the 5 steps to choose the right investment; 1. [Prioritize your Goals](https://www.financialplanningindubai.com/blog/how-to-choose-the-right-investment-in-uae#Step-1) 2. [Identify...](https://www.financialplanningindubai.com/blog/how-to-choose-the-right-investment-in-uae#Step-2) [Read More](https://www.financialplanningindubai.com/blog/how-to-choose-the-right-investment-in-uae?hsLang=en-gb) *Damodhar Mata | Your Trusted Financial Advisor in Dubai* ![Damodhar Mata-7-2](https://www.financialplanningindubai.com/hs-fs/hubfs/Damodhar%20Mata-7-2.png?width=119&height=119&name=Damodhar%20Mata-7-2.png) *I can help you grow wealth, gain passive income, and achieve your goals faster and with ease. * **Top Pages** - [Home page](https://www.financialplanningindubai.com) - [Best Life Insurance](https://www.financialplanningindubai.com/best-life-insurance-dubai) - [Best Investment Plan](https://www.financialplanningindubai.com/blog/how-to-invest-in-uae) - [Retirement Planning in the UAE](https://www.financialplanningindubai.com/retirement-planning-in-uae) - [FIRE Early Retirement Guide](https://www.financialplanningindubai.com/blog/early-retirement-in-uae-fire-guide) - [Best Child Education Plan](https://www.financialplanningindubai.com/childrens-education-planning) **Top Blog Posts** - [Financial Planner or Financial Advisor?](https://www.financialplanningindubai.com/blog/financial-planner-or-financial-advisor) - [How to find the Best Financial Advisor](https://www.financialplanningindubai.com/blog/best-financial-advisor-uae) - [Win With Money Challenge](https://www.financialplanningindubai.com/blog/30-days-win-with-money-challenge) - [FIRE guide for expats](https://www.financialplanningindubai.com/blog/early-retirement-in-uae-fire-guide) - [Pay Yourself First](https://www.financialplanningindubai.com/blog/how-expats-in-uae-can-grow-wealth-using-pay-yourself-first-strategy) - [Google Reviews](https://www.financialplanningindubai.com/testimonials-financial-advisor-in-dubai) **Other pages** - [About us](https://www.financialplanningindubai.com/about-us) - [Testimonials](https://www.financialplanningindubai.com/testimonials-financial-advisor-in-dubai) - [Services](https://www.financialplanningindubai.com/services) - [Contact us](https://www.financialplanningindubai.com/contact-us) --- © 2024 Financial Planning in Dubai. 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