This is a doctrinal research which aims to look into Islamic estate planning, i.e. the paper utilizes
descriptive approach of qualitative research methodology which relies on secondary data inform of
text books, journals, newspapers, related websites etc. In Malaysia, there is an issue of accumulation
of unclaimed property after deceased’s death which made many writers to call for a better way of
handling this issue. In following the path of these writers, the researchers discussed some ways of
Islamic real estate planning and provided suggestions on how to solve the issue of accumulation of
unclaimed assets particularly in Malaysia. Thus, it is suggested that in order to solve the issue of
accumulation of unclaimed property particularly in Malaysia, wasiyyah (bequest) may be used for
real estate planning if the conditions are fulfilled. Moreover, it is suggested that hibahmay be used in
estate planning only in situations where division based on fara’id after the owner’s death is
cumbersome e.g. complexity of law, long process etc. in order to avoid accumulation of unclaimed
assets. However, if the gift (hibah) is made in favour of the donor’s children, there shall be no
discrimination between them as the Prophet (saw) requires equality when giving gift to children. But,
in the absence of any valid reason, distribution based on Islamic law of inheritance (fara’id) shall be
applied.
Real Time Impact Factor:
Pending
Author Name: Yusuf Sani Abubakar , Ahamad Faosiy Ogunbado and Mpawenimana Abdallah Saidi
URL: View PDF
Keywords: Islamic law of inheritance (fara’id), gift (hibah), bequest (wasiyyah), Islamic estate planning
ISSN: 2582-2292
EISSN:
EOI/DOI:
Add Citation
Views: 1
