Islamic will and trust for Muslims in the USA
As Muslims, we are taught to plan for the future, both in this life and the Hereafter. One of the essential aspects of planning for the future is to ensure that our assets are distributed according to Islamic law and our wishes after we pass away. This is where an Islamic Will and Trust come in.
An Islamic Will and Trust is a legal document that allows you to distribute your assets, including property, money, and possessions, according to Islamic law. It is an act of faith and devotion to Allah, ensuring that your wealth is used in a manner that aligns with your values and beliefs.
An Islamic Will, also known as a Wasiyyah, is a legal document that outlines how a Muslim’s assets will be distributed after their death according to Islamic laws and principles. It is a straightforward document that allows Muslims to specify their wishes for the distribution of their assets, without the need for a court proceeding.
On the other hand, an Islamic Trust, also known as a Waqf, is a legal entity that is created to manage and distribute assets for charitable purposes, such as supporting a mosque or an Islamic school. It involves the transfer of assets to a trust that is managed by trustees, who are responsible for carrying out the wishes of the creator of the trust.
While an Islamic Will is relatively straightforward and can be created by an individual, an Islamic Trust is more complex and usually requires the assistance of legal professionals who are familiar with Islamic laws and principles.
Why do you need an Islamic Will and Trust?
In the USA, the legal system does not automatically recognize Islamic law, which means that your assets will be distributed according to the state’s laws if you do not have an Islamic Will and Trust in place. This can lead to conflict among family members and even court battles, which can be costly, stressful, and time-consuming.
An Islamic Will and Trust provide clarity and certainty to your loved ones about how your assets will be distributed after your passing. It also allows you to avoid probate, which is the legal process of distributing assets according to the state’s laws.
Moreover, a trust allows you to specify how your assets are managed and distributed. You can choose to distribute your assets immediately after your passing or set up a plan that distributes your assets over time. This way, you can ensure that your wealth is used in a way that aligns with your values and beliefs, even after you have passed away.
It is important to note that both an Islamic Will and Trust are recognized and enforceable under US law, as long as they comply with legal requirements. However, it is essential to seek legal advice from a qualified professional who is familiar with both Islamic and US laws to ensure that the documents are valid and enforceable.
An Islamic Will and Trust serve different purposes and have different requirements. While an Islamic Will is a legal document that outlines how a Muslim’s assets will be distributed after their death, an Islamic Trust is a legal entity that is created to manage and distribute assets for charitable purposes. By seeking legal advice from a qualified professional, Muslims can ensure that their assets are managed and distributed according to their wishes and in accordance with Islamic principles.
How to create an Islamic Will and Trust?
Creating an Islamic Will and Trust can be a complex process, but it is essential to ensure that your wishes are fulfilled according to Islamic law. Here are some steps to consider when creating an Islamic Will and Trust:
- Seek guidance: Seek guidance from a knowledgeable scholar or attorney who is well-versed in Islamic law and the laws of the state you reside in.
- List your assets: Create a list of all your assets, including your property, investments, and other possessions.
- Choose your beneficiaries: Determine who will inherit your assets after your passing. This can include family members, friends, and charities.
- Appoint a trustee: Choose a trustworthy and responsible person to be the trustee of your Trust. This person will ensure that your wishes are fulfilled according to Islamic law and the laws of the state.
- Write your Will and Trust: Write your Will and Trust, ensuring that it is Shariah-compliant and covers all your assets. Sign and date your Will and Trust in the presence of witnesses.
In conclusion, creating an Islamic Will and Trust is an act of faith and devotion to Allah, ensuring that your assets are distributed according to Islamic law and your wishes after you pass away. It can provide you and your loved ones with peace of mind during difficult times and allow you to leave a lasting legacy that reflects your faith and values.
We understand that preparing an Islamic Will and Trust can be a daunting task, but seeking guidance and educating yourself about the process is crucial. Remember, it is never too early or too late to start planning for the future and ensuring that your wealth is used in a way that aligns with your values and beliefs.
At Islamic Wills Trust Services we have a team of experienced attorneys who can help you set up an Islamic living trust tailored to your unique needs and circumstances. Contact us today to learn more about how we can assist you in protecting your assets for generations to come.
Schedule your free consultation in our offices in Maryland and Virginia or in your house or online. We’re also available to meet on weekends and after working hours. You may schedule your consultation by calling us at 855-559-4557 or by emailing us at yasir@islamicwillstrust.com. Appointments are typically scheduled two weeks in advance.