Islamic Estate Plan
(Custom-Tailored Solutions for your family’s future with Islamic estate planning)
What is Personalized Islamic Estate Plan and How can we help?
AS MUSLIMS, WE SPEND OUR LIVES PROVIDING A HALAL INCOME FOR OUR FAMILIES. WE MAKE PLANS FOR EVERYTHING, BUT MOST OF US FORGET TO PLAN FOR THE ONE CERTAINTY OF LIFE: THAT WE WILL NOT LIVE FOREVER.
Almighty ALLAH did not order mankind to determine who will receive his wealth after he dies and leaves this world. ALLAH, however, declares each heir’s part of the inheritance in His Book, Al-Qur”, in a most exact manner. In addition, the Messenger of ALLAH (peace be upon him) gave further details about these rulings just as he provided details for prayer and fasting. This discipline in the Islamic context is known as “Fara’id” or simply “inheritance.”
Islamic inheritance law is considered to be one of the most important subjects within Islamic law, as well as one of the most complex. Yet, like Salat-ul-Janazah (funeral prayer), it is considered Fardh Kifayah, The Qur’an has elaborated upon some important rules of inheritance.
This elaboration is sufficiently comprehensive and unambiguous as for as legal heirs and their respective shares are concerned, the purpose of the detailed elaboration appears to be that no one should be deprived of his/her right to inheritance who ought to have inherited, The Qur’an generally deals with issues by establishing general principles and rules. But so far as the rules of inheritance are concerned, Qur’an has delved into a detailed discussion and all the major aspects of inheritance have been laid down to some extent. After the pivotal role played by the Qur’an in this regard, other rules of inheritance derive strength and authenticity from the Sunnah and Ijma.
We specialize in helping you ensure that those closest to you are protected in the event of your death or incapacity, leave a legacy for your community, and make sure that your assets are transferred to your loved ones in accordance with the Islamic Inheritance Law of the Quran and the Sunnah. Our Islamic estate planning professionals can specifically assist you in answering the following questions:
- 1. Who has the authority to make crucial medical and financial decisions for me if I travel away from my family and become sick or injured?
2. If something happens to me and my spouse, who gets custody of my children?
3. How can I make sure that I’m given a proper Islamic Janazah and burial when I pass away?
4. After I die, what happens to all my assets? How do I ensure compliance with Islamic Inheritance Rules and provide for my family after death?
5. The names of an executor or more for your will.
6. The provisions for your Islamic funeral and burial specify things such as no cremation or casket, burial at a Muslim cemetery, and a prayer of Janaza at a mosque as soon as possible after your death.
7. The guardianship of your children, depending on which eligible members of your family are alive at the time of death.
8. A provision that all your obligations, including the funeral expenses, will be paid out first.
9. How your estate will be divided according to Islamic law, including the real estate.
10. The legal status of your company or partnership after you pass away; and
11. Your wishes to donate a part of your estate to an Islamic charity (as per Islamic law no more than one-third)
Everyone must have a plan for the estate, Specifically Muslims living in the U.S and they need one today. Procrastination too often leads to families struggling more than they need after a loved one has died.
If you have no estate plan, your property will be disposed of by the legal system after you pass.
Without the correct estate plan in place, your family can face a lengthy and costly court process as well as tax consequences. Therefore, your properties are highly unlikely to be treated according to your wishes.
Avoiding the default process by putting in place a custom estate plan. By setting up a personalized estate plan. Whatever the size of your estate or the complexity of your situation, you want an experienced expert in Estate Planning to be at your side. Walkthrough all the tough and relevant decisions and enable you to meet your family and legacy goals.
We need to understand your personal, family, and financial situation so that our attorneys can draft your custom will or estate plan. When you schedule your free consultation, you will receive our estate planning questionnaire. You will need to complete this questionnaire to the best of your ability and bring it with you to the consultation. This will allow us to give you more custom-made advice about what type of estate plan is best for you.
We will draft your will or estate plan. Throughout this phase, we will stay in close contact with you. Once we complete your estate plan in conjunction with our resident Islamic scholar, all you need to do is to execute your custom will or estate plan.
As Muslim financial consultants and family-loving people, we know how important it is to have a proper Islamic estate plan to protect our loved ones. it is our duty and goal to provide personalized Islamic estate planning services to Muslims in the U.S. Islamic Wills Trust Services provides estate plans and Islamic wills in accordance with the state, federal, and Islamic law of inheritance.
Personalized Islamic Estate Planning can accommodate Muslim clients to have customized tailored estate planning in accordance with the Islamic law of inheritance and state law.
Apart from custom-tailored solutions, it is equally important, if not more so, the provision for loved ones left behind in this world, for one should ever be mindful of the advice of the Prophet (PBUH), as narrated by Sa’d bin Abu Waqqas, that leaving everything to charity is not necessarily commendable in Islam.
“It is better for you,” said the Prophet, “to leave your inheritors wealthy than to leave them poor begging others, and whatever you spend for Allah’s sake will be considered a charitable deed even the handful of food you put in your wife’s mouth.”
We help and guide our customers to decide on a reasonable Islamic Estate Plan which fulfills the needs of Islamic Inheritance laws.
To create a personalized Islamic estate plan, being estate-planning practitioners, we listen to and understand the needs, values and convictions, and religious beliefs of our clients with an aim to achieve Muslim clients’ unique goals. We at Islamic Wills Trust, understand the importance of the client’s beliefs and traditions and thus make sure to draft an Islamic estate plan in its accordance. some information about estate planning.
What is Estate Planning?
Taking Control of Assets
In its simplest terms, an estate plan is nothing more than a set of instructions that clearly spells out how property should be managed during life and distributed at the estate owner’s death.
Estate planning is a process that involves arranging assets (their ownership and their use) in ways that will help estate owners meet financial objectives in a tax-efficient manner during their lifetime, while also providing for the obligations of survivors and the disposition of one’s assets after death.
A carefully implemented estate plan can:
1. Create and conserve assets during life
2. Minimize estate taxes and estate settlement costs
3. Ensure that cash is available to pay unavoidable taxes and costs
4. Provide for an orderly distribution of assets that meets the estate owner’s objectives and intentions
5. Protect a business and ensure its successful transfer
6. Provide peace of mind and family harmony
Have liberalized estate tax rules made estate planning irrelevant? Not according to the experts. In addition to the obvious benefits, an estate plan can:
Avoid conflict. The way assets pass to family members or other heirs can be complex. Clear documentation of an estate owner’s decisions concerning the distribution of assets can help avoid conflicts by minimizing the sting of unfulfilled expectations while ensuring that plans steer clear of unintended consequences.
Expedite settlement. By providing executors and administrators with a blueprint of wishes, an estate owner can considerably reduce the time required for estate settlement.
Shrink expenses. Written directives ensure efficient estate transfer, which can minimize
expenses, conserve estate assets, and provide for an orderly distribution of the estate.
Realize philanthropic goals. Comprehensive estate planning allows for the fulfillment of charitable intentions if estate owners choose to distribute assets to personally meaningful
organizations or institutions.
It is clear that estate planning is not just for the super-rich—after all, avoiding large estate tax bills is only one item on a long list of benefits. Instead, estate planning is important for anyone who needs to provide for loved ones or wants the opportunity to decide how their assets will be distributed after death. In other words—estate planning is for everyone!
Estate Planning covers the transfer of property at death as well as a variety of personal matters including, but not limited to:
1. Last Will
3. Beneficiary designations
4. Powers of Appointment
5. Health care directive or living will
6. Power of attorney
7. Property ownership
8. Appointment of funeral/burial agent
9. Funeral and burial arrangements
Islamic wills and trusts are a vital part of Islamic estate planning. The will is the most significant document because it specifies how you want your wealth to be distributed. Trust is one of the most useful and flexible tools in Islamic estate planning because it enables the transfer of assets during the lifetime of the person who creates the trust. This is why many Muslims incorporate Islamic wills and trusts into their estate planning.
Schedule your free consultation in our offices in Rockville, Maryland, 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 firstname.lastname@example.org. Appointments are typically scheduled two weeks in advance.