The divorce can be stressful for both husband and wife no matter whatsoever the circumstances or reasons are. But there are few legal and religious obligations that need to be carried out during and after the whole procedure. According to Dubai’s Statistics Center, there were 6 divorces in 1000 couples in 2016, the rate which is considered very high as compared to other parts of the globe. Unfortunately, the divorce rate is increasing in UAE not only among locals but also in expatriates. Due to lack of knowledge and much information on the topic couples feel helpless and left wondering how to handle the assets and often fail to manage the splitting of joint assets. But in most cases, it is noticed that husband and wife end up agreeing on mutually beneficial terms. However, there are few couples who tend to take disastrous decisions and not so good distribution of assets ultimately leaving their heirs and children at loss.
It is important for local and foreign couples to understand and know the multiple circumstances, conditions, and set of rules & regulations that govern the distribution of assets after the divorce. The wife & husband should not worry about guardianship if the will or agreement has been properly drafted and attested by the local courts.
We advise couples to get legal assistance from our associate expert UAE divorce lawyers to face all the challenges and legal issues that will arise during and after the procedure of divorce.
What Happens to Property and Assets in the United Arab Emirates which are Under One Name?
The local legislation applies to wealth distribution in the UAE irrespective of religion, gender, or nationality; especially if there is no will agree to follow. The Sharia law governs the distribution of assets in UAE especially if the couples fail to decide on any terms prior to deciding for a divorce. This applies to all kinds of assets including bank accounts, insurance policies, bank accounts, investments, or any other form of assets.
According to law a couple of scenarios will help to understand expatriates couple to understand the handling and distribution of assets following the divorce. The scenarios are:
● If the asset is registered under the name of wife and wife passes away after divorce the asset shall be distributed according to the laws of inheritance if there is no will. In case of a will, the law will make sure to follow whatever is written in the will.
● With investments that are registered in the wife’s name but were required by using the husband’s money, the file, therefore, holds the legal right with assets. If required, the couple may agree to any settlement plan wherein the assets are transferred to the husband when the divorce is finalized.
● In the case of joint ownership of property, if the couple has drafted any will and legalized the will it will become null & void and will be considered a useless paper for law. The proper documents are required by the court to prove any ownership right.
● The will have to be re-done if husband and wife remarry as the former attested will become null & void if the couple as acquired any asset together.
● In the United Arab Emirates, the Sharia law is implemented for the division of assets and investment if in case there is no will drafted.
What Happens to Children Following Divorce in the United Arab Emirates?
The children suffer mental trauma in case of divorce and are badly hit by the whole stressful process. It is advisable for couples to plan guardianship to prevent kids from any kind of suffering that they might face during and after the proceedings of divorce. If couples are to re-marry, they must make sure to consider the following things to avoid any kind of chaos in the future:
● If the wife remarries after divorce only children from 1st marriage are entitled to inheritance and assets acquired from 1st marriage. The children from 2nd marriage will not hold any right on such assets.
● When both parents remarry the children from the 2nd marriage will not have any right to assets that were inherited by children from the 1st marriage. In case of a will, the new will have to be drafted and the power of attorney should be replaced with the new one.
● In UAE according to laws the custodianship normally goes to the husband, but the case may differ with few exceptions in some circumstances.
What Happens When Assets in the United Arab Emirates are Held Jointly?
It is better to have a settlement plan by husband and wife for mutually held assets. The settlement will clear any kinds of doubts and will clearly define the ownership and in some cases the guardianship of children. However, it is important to finalize the settlement plan before the finalizing of divorce.
Divorce Lawyers in the United Arab Emirates
Divorce can be very stressful for both parties. If you need any guidance do not feel hesitate to contact us. Our associate divorce expert lawyers in UAE have a wide experience of handling such cases successfully. Our associate’s divorce expert lawyers in UAE make sure to make the process smooth and less stressful