Long-Term Care Planning

7 things you must know about Islamic estate planning before you create your estate plan [Video]

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7 things you must know about Islamic estate planning before you create your estate plan

Before you undermine the importance,

FIRST, How does Islamic Inheritance law reduce poverty?

SECOND, Where does it fit compared to other laws of inheritance?

THIRD, What is special about Islamic Inheritance law compared to other laws?

FOURTH, What should you know more about Islamic Inheritance law regarding giving protection to the deceased property and how can it provide a balanced solution?

FIFTH, How can you save money from a legal perspective by implementing the Islamic law of inheritance?

SIXTH, It’s clear—no need to guess for implementing an estate plan based on Islamic inheritance law.

SEVENTH, Is it only an asset distribution solution or more?

Islamic inheritance law is also called Islamic succession law, Muslim inheritance law, or Muslim succession law. In many parts of the world, it is also called Muhammadan law, Mohammadan law, Mahomeddan law, and Mahomedan law. Islamic Inheritance law encompasses sharers, residuary, consanguine male relatives, and distant kindred relatives. The fixed or prescribed sharers are Husband or Wife, Daughter or Daughter of Son, Father or Father of Father, Mother or Mother of Mother and/or Mother of Father, Full Sister, Paternal Sister, and Maternal Siblings. There are specific conditions and blocking rules that need to follow as per Islamic Inheritance law. When the total share exceeds, it is called the Awal scenario. When a total share is less than one, but Residuary is not alive, it is called the Radd scenario. When a total share is less than one, but Residuary is alive, it is called the Residuary scenario.

When a Muslim dies, their assets cannot be distributed other than Islamic or Muslim Inheritance law after their death. However, unfortunately, most Muslims die without a proper estate plan. It is the responsibility of a Muslim to have a Will (or Islamic Will) or Trust (or Waqf) created before their death.

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Estate Planning Law Firm [Video]

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