UAE Government Announce Significant Changes To Inheritance Laws
In November 2020, some of the most significant changes to UAE private law in recent times were implemented with immediate effect as legislative changes to inheritance and divorce laws were introduced.
These changes are of particular importance to expats living and working in the UAE.
Whilst previously in the absence of a will, a family’s assets would have been divided in line with Sharia Law, the changes to inheritance rules mean the estate is passed on according to the deceased’s home country laws.
Claim your free Guide to Inheritance Tax Planning for British nationals in the UAE to discover:
The changes to Inheritance Tax laws in the UAE
What this means for locally owned property
If your estate will exceed the Nil Rate IHT Band
The difference between Domiciled and Resident
How you can legally reduce your IHT liability
How and who you can gift your assets to free of tax
The importance of having a valid Will
How using a Trusts can help you avoid paying IHT on property
It's not a subject most of us like to think about, but getting the right advice is imperative to make sure your wealth is passed to the ones you love efficiently and quickly.
If you still hold ownership on any property within the UK you could find that your entire estate is liable for UK IHT.
A costly mistake
When you have worked hard all your life to create personal wealth or build assets, it's important to know that this will be appropriately distributed after you have gone.
Seeking Inheritance tax and estate planning advice now, will allow your family and loved ones to benefit from your hard work, without facing huge losses through inheritance tax later in their life.
Download your FREE e-guide to learn the secrets to reducing your IHT liability and ensure your family is looked after for generations to come
The Importance of obtaining professional advice
Such an important decision should never be taken without receiving sound advice that considers all options and eventualities.
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