Under a Sharia will, at least two-thirds of a Muslim’s estate must be distributed among surviving relatives in the event of their death. One-third can be bequeathed to anyone of your choosing who is not entitled to a fixed share, such as a charity.
The individual may also wish to leave a Sadaqah Jariya, a type of perpetual charitable giving in the cause of Allah, a virtuous act designed to provide rewards in the afterlife.
Whilst Islam outlines the key components of a Muslim’s will, under an Islamic Will, Muslim could:
- Decide your funeral and burial arrangement and leave your funeral wishes
- Decide what to leave to whom
- Appoint your executors
- Appoint the guardians and make provisions for your children
- Specify the charities you want to support
Also, if you are writing a Sharia will, we suggest considering:
- You need to value your assets
- You need to keep your will up to date
- You need to keep your will safe
- You could protect your estate for vulnerable family members
- If you own a business and it’s qualified for Business quality relief, extra IHT savings could be obtained