A Wasiat is a declaration of a person made during his life time with respect to his property or beneficial interests thereof, to be carried out for the purposes of charity or for any other purposes permissible by Islamic Law, after his death.
Distribution of Asset without a Wasiat
Who are the legal heirs?
Heirs are specifically identified in Islam. The following main heirs are never excluded from a deceased’s inheritance provided that they are Muslims :
Grandchildren, for example, are not automatically regarded as heirs and would only benefit under certain circumstances.
Those not regarded as heirs in Islam include, among others :
Benefit of Writing a Wasiat
Islam permits a Muslim to bequeath one third of his assets via a Wasiat to his loved ones who are not entitled under Faraid, be they Muslims or otherwise, or for charitable purposes in accordance with Syariah.
Importance of Wasiat by Law In Malaysia
Estate planning is not merely the distribution of your estate upon your demise, but more importantly, to ensure proper execution of your estate administration.
The Wasiat allows you to appoint a trusted individual or a trust corporation to act as an executor/administrator of your estate and hold the responsibility of administering your estate.
Appointing a competent executor can expedite the process of asset liquidation, settlement of liabilities as well as smoothly, impartially and completely distribute your estate to rightful beneficiaries.
Have you written your Wasiat?
Wasiat writing is a must for those who have assets and family members as well as liabilities.
Wasiat writing must be done while you are of sound mind and healthy. Do not procrastinate. Start now. If you are uncertain on how to write a Wasiat do not hesitate to contact us. We are specialists in Islamic Estate Planning. We will help you plan your Wasiat according to your needs and Islamic Law.
We must bear in mind the wise words of the Prophet Muhammad S.A.W., as narrated by Abdullah bin Umar :
“It is not permissible for any Muslim who has something to bequeath to stay for two nights without having his Last Will and Testament written and kept ready with him.”
You have the right to decide who will manage your estate and how your estate will be distributed after your departure. Don’t let others make these crucial decisions for you.
Why Let Others Determine Distribution of Your Assets When You Depart?
You have the right to choose the administrator of your estate and its plan of distribution upon your demise.