Estate Planning for British Expatriates in Dubai
Thinking about what happens to your wealth, assets, property and family in the future can be a difficult and emotive part of the financial planning process. However, considering all the options, your family’s needs and your own wishes does create peace of mind and the knowledge that all will be in order when the time comes. Our team of estate planning experts can support you and your family in every element of this process, working closely and sensitively to guide you through the scenarios you want to consider. As you would expect we will always offer personal meetings to discuss all aspects of your estate to come to the right conclusions with you and help ensure your wishes are carried out.
The Importance of Your Will
At the heart of good estate planning is a tax-efficient UK Will. This important document provides the framework for all of your decisions and ensures that your wealth, assets and personal items reach the people you want them to. It can also specify more personal wishes, including funeral arrangements. Whether you need to update an existing Will – a useful practice every five years or so – or create a new UK Will we can help. In reviewing or creating a Will we will advise on the best way to structure your assets and provide guidance whether it would be useful to set up trusts, all with the aim of ensuring that your estate is passed on correctly. If needed, you can also decide whether to appoint us as your Executor, so that we can provide support and guidance to your family at what can be a difficult time.
Even if you are living in Dubai Inheritance Tax may apply to your worldwide assets, such as a UK home or overseas investments. This is a significant tax, and there have been numerous cases over the years where IHT has seriously eroded estates and assets. There are a number of allowances which can come into play to help minimise Inheritance Tax and maximise the value of your estate, but the key, as ever, is to plan accordingly.
Lasting Power of Attorney (LPA)
A Lasting Power of Attorney (LPA) is a document which can provide a safeguard if you become unable to make decisions for yourself. It works by specifying an Attorney who can, as and when needed, act on your behalf for important decisions about your finances or other aspects. LPAs have become an important tool, especially in the light of life expectancies steadily growing, and cases of dementia on the rise. Our team of experts has significant experience with these documents and we can work sensitively and carefully to help you detail your own wishes and who you would like to act for you. If required we can also act as your Attorney.
To discuss your own circumstances, and estate planning requirements, please get in touch on 00 971 (0)4 389 4900 or firstname.lastname@example.org.
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