UAE Experts Advocate for Legacy Folders to Aid Grieving Families
'Voice from grave': Legacy folders help grieving families locate money, UAE experts say
Khaleej Times
Image: Khaleej Times
Legal specialists in the UAE recommend creating 'legacy folders' to help families manage financial and legal matters after a death. These folders can prevent chaos by storing essential documents like wills, identification, and asset information, addressing common issues faced by grieving relatives.
- 01The legacy folder serves as a comprehensive storage for essential documents, including wills, identification, and financial information.
- 02Samara Iqbal from Aramas International Lawyers emphasizes that families often struggle with cash flow after a primary breadwinner's death.
- 03Mohammed Marria from Just Wills Consultants describes the folder as 'the voice from the grave,' guiding families on asset management.
- 04The folder should include details on major assets, business interests, and digital access, as well as practical instructions for immediate needs.
- 05Special attention should be given to sensitive items like jewelry, which should be documented to avoid family disputes.
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In light of regional instability and complex family structures, legal experts in the UAE are urging residents to create 'legacy folders' that compile crucial personal, financial, and legal documents. This initiative aims to alleviate the common challenges faced by families after the unexpected death of a primary breadwinner, particularly regarding cash flow and asset management. Samara Iqbal, founder of Aramas International Lawyers, highlights that families often find themselves in financial distress due to a lack of clear planning. The legacy folder, described by Mohammed Marria, CEO of Just Wills Consultants, as 'the voice from the grave,' should encompass a variety of documents including wills, identification, financial records, and details about major assets and digital accounts. The folder not only provides clarity but also helps prevent administrative chaos during a difficult time. Additionally, it addresses unique considerations such as polygamous marriages and the inheritance rights of children born outside wedlock, ensuring that all family members are accounted for in estate planning.
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The establishment of legacy folders can significantly ease the financial and administrative burdens on families in the UAE during times of grief.
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