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Shari`a compliant Islamic Wills & Trust (compliant under UK law)
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Islam’s legal system known as Shari`a governs all aspects of the observant Muslim’s life and which drawn from Quran and Sunnah.
“It’s the duty of a Muslim who has anything to bequest not to let two nights pass without writing a Will about it”
- Under UK law, you can leave your wealth to anyone without any restrictions. If you don’t have a Will, the death estate will be distributed in accordance with the law of intestacy applicable to England & Wales, which is contradictory to Shari`a law of succession. Hence, Muslims are encouraged to write a Will.
- Under Shari`a you are free to leave up to one-third of your wealth to anyone (including charity, nieces and nephews and non-Muslim spouse etc.), after debts, expenses such as burial, enshrouding and taxes. The remaining two thirds must be distributed among your surviving relatives in fixed shares.
- Shari`a’s basic distribution is as follows:
- The surviving wife is entitled to an eighth share,
- Surviving husband is entitled to a quarter share,
- Surviving mother and father are entitled to a sixth share,
- The remainder is passed down to the children, with males receiving double the share of females.
- The difference between male and female entitlement is because men in Islam have a religious duty to maintain their female counterpart.
- Under Shari`a there is no limit on what Muslims can give away during their lifetimes. The only restriction on lifetime giving is when a person is suffering from a terminal illness or is on his deathbed. The person giving in such a situation is treated as having effectively died already.
- Shari`a rules work on the basis of each spouse’s wealth being independent of each other.
- Since Shari`a passes a small portion to surviving spouse (exempt from Inheritance Tax) and the balance to others (not exempted from Inheritance Tax) they are not tax-efficient. Apex Estate Planners can prepare the most tax-efficient Will in such cases.
- If someone has died leaving a non-Shari`a compliant Will or a Will which is not tax-efficient a deed of family arrangement also known as Deed of Variation can be made to rectify this. However, all the beneficiaries listed in the Will should be 18 or above and consent to varying their entitlement.
- Under Shari`a law, Muslims can also:
- Appoint Executers to handle their estate after their death.
- Appoint guardians if they have any minor children.
- Make provisions for minors (I.e. invest their inheritance for their maintenance, education and benefit in a Shari`a compliant Trust).
- Specify any charities they may wish to benefit.
- Specify any funeral wishes.
How can we help?
At Apex Estate planners, we specialize in preparing Islamic Wills compliant with the law in England & Wales. Understanding our clients’ busy lives, we offer home visits at their convenience. Our legally trained staff will explain legalities and tax implications, take instructions, and answer questions. We ensure all legal documents are correctly signed and maintain close collaboration with specialist Shari`a law solicitors in the UK.
Get in touch with us today.
Disclaimer: The information on the Apex Estate Planners Ltd website is for general information only and reflects the position at the date of publication. It does not constitute legal advice and should not be treated as such. It is provided without any representations or warranties express or implied
