5 Important Things to know about the Probate Process2 min read
The probate process allows the testate and the beneficiary to transfer and receive assets respectively through the involvement of a local court.
It’s an important procedure for the people to understand as they choose to draft wills in Dubai and in the UAE. The process involves an estate attorney that reviews all the necessary legal documents related to the person after death and the distribution of assets before transferring them to the living beneficiaries.
It also determines any debts or taxes related to the property distribution of the person and considers the laws of governing inheritance as an important part of the process.
That’s why we have come up with a list of 5 important things to know about the probate process so you could understand about it in a better way.
- Filing the appropriate paperwork
The probate process requires filing the appropriate paperwork after hiring an attorney to easily handle all the paperwork and also prove the credibility of the will. After that, a legal representative or an executor will need to provide a list of debts, assets, and beneficiaries so that the process of transferring the property could be carried out easily.
- Hiring an Executor
Hiring an executor has many benefits as they act as a middleman between the person and the court. Even after the death of the person, the probate court demands the executor to establish a list of the debts and taxes related to the property of the person in the light of the state laws to determine the inheritance and transfer of the property to the required beneficiaries under the laws.
- Importance of a will in the process
The will play a really important part in the probate process. The DIFC probate process plans to transfer the property to the spouse and children effectively. However, without a proper will, the process tends to become lengthy and takes more time than usual.
- Effective estate plan
An effective estate plan helps in breaking down the probate process into simpler steps. It allows the person to organize all the assets and the beneficiaries to take help from an attorney and immediately transfer all the property through the probate process.
- Additional Charges
The beneficiaries might have to pay additional charges such as the court fees and other charges to execute the process successfully. However, it depends greatly on the nature of the case and the absence of a will. That’s why it could be beneficial to hire an experienced lawyer so that the process could be executed smoothly without any inconvenience.