The DIFC Courts Wills Service provides an online facility that enables eligible persons to complete and submit for registration a DIFC Courts Will which is specific to their bank and brokerage accounts.
This ‘Financial Assets Will’ can encompass up to ten (10) separate accounts or a share in up to ten (10) separate accounts that are registered in your sole name or joint name and are legally held with a bank or brokerage firm whereby the branch at which such accounts are registered is situated in the UAE.
Each bank account must be registered with a financial institution that is regulated as a bank by the Central Bank of the United Arab Emirates and, in the case of brokerage accounts, registered with a financial institution that is regulated as a brokerage firm by the Emirates Securities and Commodities Authority.
Each bank or brokerage account should hold only movable assets comprising monies, publicly traded shares, stock or other securities, or securities issued by any government authority and you must be the exclusive beneficial owner of the movable assets held in each bank or brokerage account.
The online facility, referred to as the ‘Financial Assets Will Portal’ is only available via this website. The pre-registration checks for a Financial Assets Will can be carried out by appointment at the Wills Service or via the Virtual Registry.
If you are not married, you should select the Single DIFC Courts Will option whereas if you are married and both you and your wife/husband wish to register a DIFC Courts Will at the same time, then you should select the Mirror DIFC Courts Will option (giving an overall net reduction in registration fees).
Your DIFC Courts Will is an extremely important document and you are strongly advised to consider taking legal advice in its preparation. The Rules set down certain minimum requirements that must be met for a Will to be registerable and if these are not met, your Will would be unenforceable. To help you find a suitable lawyer, the Wills Service publishes a list of legal practitioners that have met certain minimum standards in relation to their knowledge of the Rules and in relation to drafting DIFC Courts Wills. Click here to access this list of approved draftsmen.
The pre-registration checks for a Financial Assets Will can be carried out by appointment in person with the Wills Service or via the Virtual Registry.