Religion gives a comprehensive life guide consisting of rules and prohibitions for all elements of living. Sharia law, often known as Islamic law, contains instructions for many difficulties for which the Muslim community requires advice. Inheritance and estate planning is the most crucial topic covered in this article. The sharia complaint will be guided by three sources: the Quran, Sunnah, Ijma, and Qiyas, in this order of significance.
THE BASIC REGULATIONS OF A SHARIA-COMPLIANT PERSON WILL BE
Heirs' inheritance is established according to a rigorous formula under sharia law. The sharia law specifies the quantity to be distributed to each member of the deceased's family. The inheritance relies on various criteria, including gender and the number of surviving family members. According to the Islamic chart of inheritance;
- If the only surviving family members are the spouse and children, one-eighth of the estate is left to the spouse, and the remainder is divided among the children. Sons will receive twice as much as their female counterparts.
- Suppose the husband and children are the only surviving family members. In that case, the Islamic inheritance chart stipulates that the husband will receive one-fourth of the property, and the remainder will be divided among the children. Sons will receive twice as much as their female counterparts.
- If just the children survive, the entire estate will be divided between them, with the sons receiving twice as much as the daughters.
According to the Islamic inheritance chart, this is the possibility to bequeath a portion of the assets to anyone other than those who have previously benefited from the sharia inheritance. The maximum sum that can be bequeathed in this manner is one-third of the property. Typically, this Wasiyya bequest is used to donate a portion of the estate to a charitable organization or individual. People with adopted children typically take this chance to leave money to their adopted children, who would not inherit otherwise.
Considerations before the distribution of assets
The assets of the dead will initially be utilized to settle any outstanding debts. The principal debt to be repaid is the cost of the decedent's funeral. Other such debts include obligations to any other entity or person. This also contains an unpaid mahr (marriage gift to a wife by the husband).
SHARIA COMPLIANCE WILL
1- ESTIMATE THE WORTH OF YOUR ASSETS (ESTATE PLANNING)
The first stage in creating a will is compiling a list of everything you possess (known as the "estate"), including your home, vehicles, money, and zakat. Due to the high cost of inheritance tax on estates of considerable size, it is prudent to employ techniques to avoid this tax.
2- SEEKING A SOLICITOR
Like any other will, the Sharia is legal, so it is prudent to obtain professional assistance.
3- DECIDE HOW TO DIVIDE THE ESTATE AMONG THE HEIRS, CHOOSE A TRUSTED WITNESS
Inheritance is a complex topic, and Muslims are required to adhere to Sharia law while drafting their will.