When considering estate planning in Dubai, one important aspect to consider is the cost associated with creating a will. The cost of making a will in Dubai can vary depending on several factors, including the complexity of your assets, the involvement of legal professionals, and any additional services required. In this article, we will explore the different factors that can influence the cost of making will in Dubai.
Legal fees:
The primary cost associated with creating a will in Dubai is the legal fees charged by the professionals involved. These fees can vary depending on the complexity of your estate and the level of expertise required. The legal fees may cover initial consultations, the drafting of the will, and any subsequent revisions or amendments.
The complexity of your assets, such as multiple properties, business interests, or investments, may require more extensive legal expertise, which can impact the overall cost. It is advisable to seek quotes from multiple law firms or legal professionals to compare prices and services offered.
Additional services:
Depending on your specific needs and preferences, you may require additional services that can add to the overall cost. For example, if you have minor children, you may want to appoint guardians in your will, which may involve additional legal considerations and fees.
Some individuals may also require advice on tax planning or the establishment of trusts, which can involve more intricate legal work and potentially higher costs. It is important to discuss your requirements with legal professionals to understand the scope of services and associated costs involved.
Registration fees:
In Dubai, wills created under the DIFC Wills and Probate Registry (WPR) must be registered with the registry to ensure their validity and enforceability. The registration fees are typically a separate cost from the legal fees and vary depending on the value of your estate. The DIFC WPR provides a schedule of fees that can be accessed for guidance on the registration costs.
Ongoing costs:
While the cost of creating a will in Dubai is typically a one-time expense, it is important to consider any potential ongoing costs. For example, if you choose to store your originals will with a trusted party or in a safe deposit box, there may be associated storage fees.
Additionally, it is recommended to review and update your will periodically or in response to significant life events, which may incur further costs for revisions or amendments.
