UAE family matters Q&A: woman aims to secure her overseas assets before marriage



I am a western woman living in the UAE. I am considering marrying an Arab man but want to make sure that the marriage (which would be out of love) does not affect my earnings before the marriage and my retirement provisions, which are in the USA and Canada. I have been married before and I am concerned about the finances. I am willing to be a supportive wife and do what is necessary but I also want to secure my assets. Should I get a lawyer to draft a prenuptial agreement?

UAE law does not have the provision for a prenuptial agreement but you will be pleased to note that the law does state that a husband cannot claim any assets his wife has acquired from her earnings, whether these earnings were made before or after the marriage. You could also have a special clause in your marriage contract under clause No 20/1 of UAE Personal Status Law No  28 of 2005, which states that “husbands shall adhere to their conditions except any conditions that sanction anything prohibited or forbid anything permissible”. It is important to also consider Article No 20/6, which states that “in case of denial, no conditions shall be valid except if it is expressly provided for in the legalised marriage contract”. It is at the discretion of the court whether they accept the clauses or request it to be amended. Another alternative to safeguard your assets would be to have a postnuptial agreement signed by you and your husband after the marriage. It could come in the form of a separate agreement signed on any date after the marriage, even the next day. This postnuptial agreement can also be called a settlement agreement.

If you have a question for our legal consultant, email media@professionallawyer.me with the subject line ‘Family Matters’.

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THE BIO:

Sabri Razouk, 74

Athlete and fitness trainer 

Married, father of six

Favourite exercise: Bench press

Must-eat weekly meal: Steak with beans, carrots, broccoli, crust and corn

Power drink: A glass of yoghurt

Role model: Any good man

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RESULTS

Welterweight

Tohir Zhuraev (TJK) beat Mostafa Radi (PAL)

(Unanimous points decision)

Catchweight 75kg

Anas Siraj Mounir (MAR) beat Leandro Martins (BRA)

(Second round knockout)

Flyweight (female)

Manon Fiorot (FRA) beat Corinne Laframboise (CAN)

(RSC in third round)

Featherweight

Bogdan Kirilenko (UZB) beat Ahmed Al Darmaki

(Disqualification)

Lightweight

Izzedine Al Derabani (JOR) beat Rey Nacionales (PHI)

(Unanimous points)

Featherweight

Yousef Al Housani (UAE) beat Mohamed Fargan (IND)

(TKO first round)

Catchweight 69kg

Jung Han-gook (KOR) beat Max Lima (BRA)

(First round submission by foot-lock)

Catchweight 71kg

Usman Nurmogamedov (RUS) beat Jerry Kvarnstrom (FIN)

(TKO round 1).

Featherweight title (5 rounds)

Lee Do-gyeom (KOR) v Alexandru Chitoran (ROU)

(TKO round 1).

Lightweight title (5 rounds)

Bruno Machado (BRA) beat Mike Santiago (USA)

(RSC round 2).

Should late investors consider cryptocurrencies?

Wealth managers recommend late investors to have a balanced portfolio that typically includes traditional assets such as cash, government and corporate bonds, equities, commodities and commercial property.

They do not usually recommend investing in Bitcoin or other cryptocurrencies due to the risk and volatility associated with them.

“It has produced eye-watering returns for some, whereas others have lost substantially as this has all depended purely on timing and when the buy-in was. If someone still has about 20 to 25 years until retirement, there isn’t any need to take such risks,” Rupert Connor of Abacus Financial Consultant says.

He adds that if a person is interested in owning a business or growing a property portfolio to increase their retirement income, this can be encouraged provided they keep in mind the overall risk profile of these assets.


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