Creating a will is a crucial step in estate planning, providing peace of mind and ensuring that your assets are distributed according to your wishes after your passing. In Dubai, the cost of making a will varies depending on several factors, including the complexity of your estate, legal requirements, and the services of legal professionals involved. Understanding the cost of making will in Dubai can help you budget effectively and make informed decisions when creating your will.
Legal fees:
The primary cost associated with making a will in Dubai is legal fees, which cover the services of legal professionals who assist in drafting and executing the document. The fees can vary depending on the complexity of your estate, the expertise of the legal advisor, and the specific services provided. Some legal firms offer fixed-rate packages for will drafting services, while others may charge hourly rates or a percentage of the estate’s value.
Notarization and registration fees:
In Dubai, wills must be notarized and registered to be considered valid and enforceable. Notarization involves signing the will in the presence of a registered notary public, while registration involves filing the will with the relevant authorities. Notarization and registration fees may vary depending on the jurisdiction and the specific requirements of the authorities involved. These fees are typically separate from legal fees and are an additional cost to consider when making a will.
DIFC Wills service center fees:
For non-Muslim expatriates residing in Dubai, the Dubai International Financial Centre (DIFC) offers a separate jurisdiction for wills known as the DIFC Wills Service Centre. Creating a will through the DIFC Wills Service Centre involves specific procedures and fees. The DIFC charges fixed fees for will drafting, registration, and storage services, with additional fees for amendments or updates to the will. While DIFC wills may offer expatriates greater flexibility and control over their estate planning, it’s essential to consider the associated costs when choosing this option.
Executor and guardian fees:
When creating a will in Dubai, you’ll need to appoint executors to administer your estate and guardians to care for minor children or dependents. While these individuals may not charge fees for their services, it’s essential to consider any costs associated with their roles. For example, executors may incur expenses related to administering the estate, such as legal fees, court costs, or travel expenses. Similarly, guardians may require financial support for the care and upbringing of minor children.
