Ramadan Mubarak to you and your family. With Ramadan and Eid al Fitr upon us, we ask the Muslim communities’ to consider Legacy, Family, and Community. During this time of prayer and reflection, it is important to consider taking the steps necessary to plan your estate and ensure your legacy.
Having an estate plan in place is mandatory on all Muslims. The Prophet Muhammad (phub) is reported as having said,”It is not permissible for any Muslim who has something to will to stay two nights without having his last will and testament written and kept ready with him.” In saying this, the Prophet was discussing the Wasiyya, the 1/3 of a Muslim’s estate which is distributable according to the wishes of the testator (one writing a will). The remaining 2/3 of the deceased’s estate would be distributed according to the Mawarith, the Islamic schedule of distribution derived from the Qur’an.
But in America, it is necessary for a Muslim who wants to enact an Islamic estate plan to ensure the entirety of one’s estate. This is because if you do not have a properly executed Will or Trust, your property will be distributed intestate, according to the laws of the state in which you live. Thankfully, all states permit testators to specify what they want, overriding the default laws of the state.
For those unable to fast, or undertaking any difficult journey, the sometimes distant need to put a plan in place becomes immediate. Though fasting and worshiping together is usually safe, this novel Corona Virus (COVID-19) has brought some difficulties and worries to the world. Allah will care for those who suffer in performing this obligation, but it is up to each muslim to ensure that their family and community are cared for.
To fulfill the obligation of ensuring your legacy, professional help is often needed. Everyone should have a Will, to ensure that they have a say in what happens to their property and also guarantee that correct burial procedures are followed. But Wills need to be executed correctly, according to the laws of the state where you live. No website or booklet can guarantee that you are enacting your Will or Estate Plan correctly.
Those with property may also need different types of Trusts, to avoid probate (the court supervised distribution of an estate which may take months and cost thousands of dollars) or the estate tax (which is up to 50% over the threshold amount). These laws are confusing, and the beginning the process can be intimidating. But these issues are important for everyone to face.
Visit IslamicLegalPlanning.com for more information and FAQs.
Todd Gallinger is a California and New York licensed attorney experienced in Islamic Estate Planning. You can reach the Gallinger Law team at (888) 255-9147 or info@gallingerlaw.com.
This article is for information purposes only, and should not b construed as legal advice. For advice specific to your situation, please contact an estate planning professional qualified in the state where you live.