Wasiat For Muslims
What Is A Wasiat?
A Wasiat is a declaration of a person made during his lifetime with respect to his property or benefit thereof, to be carried out for the purposes of charity or for any other purposes permissible by Islamic Law, after his death. The assets of Muslims who die without Wasiat shall be divided rigidly amongst their heirs in accordance with the Faraid, i.e. the Islamic Law of Inheritance.
Heirs are specifically identified in Islam. A spouse, parents and legitimate children (provided they are Muslims) are never excluded from a deceased’s inheritance. Grand-children, for example, are not automatically regarded as heirs and would benefit only under certain circumstances. Those not regarded as heirs in Islam include, for example, adopted children, illegitimate children and foster parents.
It is, nevertheless, enjoined in Islam, for a Muslim to write a Wasiat and to make a bequest of one-third of his assets to his loved ones, be they Muslims or not, or to charity so long as it is made in accordance with the Syariah.
Bearing in mind what the Prophet S.A.W. said, as narrated by Abdullah bin Umar that:
“It is not permissible for any Muslim who has something to Will to stay for two nights without having his Last Will and Testament written and kept ready with him“
How About Hibah?
Hibah is a gift of asset(s) made voluntarily by a donor during his/her lifetime to the beneficiary without any consideration. With UBB Amanah, the asset is entrusted to the appointed trustee to be held for the benefit of the beneficiary(ies) for a certain period of time under a Hibah Deed executed by the donor and the beneficiary(ies) and a Trust Deed executed by the beneficiary(ies) and the trustee.
While Hibah can be performed by a Non-Muslim, the beneficiary can be a Muslim or Non-Muslim, an adult (mukallaf) or a minor who is capable of owning an asset(s). For a minor, a designated representative, executor (wasi) or guardian will accept and receive the Hibah asset(s) on its behalf.
UBB AMANAH BERHAD
B-G-09 Galeria Hartamas,
No.21, Jalan 26/70A,
Desa Sri Hartamas, 50480,
B-G-07 Galeria Hartamas,
No.21, Jalan 26/70A,
Desa Sri Hartamas,