The importance of writing a Will - the Islamic dimension

We had the privilege to host a seminar on the Inheritance and the importance of writing an Islamic will.  The programme was held on Saturday 8th May at 7.30pm at the UK Islamic Mission in Wolverhampton.  

The evening began with recitation from the holy Quran by Maulana Abdul Hameed.  Br. Haroon Rashid, from iWills Solicitors Ltd, then gave a fascinating presentation in the importance of wills.

He pointed out the difference between wills under UK and Islamic law (wasiyya).  The key difference being that under Shariah law 2/3 of the estate must go to heirs under fixed shares, the remainder 1/3 may be distributed at the persons discretiion, whereas under UK law a person can distribute their entire estate to whomever they wish

Br. Haroon then set out the reasons for having a will: 

1. Shariah compliance - this is the primary reason, since the importance of having a will is stiputated in the Quran sevaral times ( for instance - "It is prescribed, when death approaches any of you, if he leaves any goods, that he makes bequest to parents and next of kin, according to reasonable usage; this is due from those mindful of God." (Al-Baqarah, verse 80) and in hadith ("It is the duty of every Muslim who has anything to bequeath not to let two nights pass without writing a Will about it.” - Sahih Bukhari)
   
   
2. Tax Efficiency - Inheritance tax is charged at 40% on all assets exceeding £325,000 and £650,000 for married couples. A tax-efficient Will uses trust structure that can result in significant tax savings
   
3. Appointment of Guardians - provision can be made in a Will to appoint a guardian or guardians for any child under the age of 18
   
4. Appointment of executors and trustees - Executors and trustees are responsible for dealing with a person’s estate after their death.  Making a Will allows a person to choose their most trusted acquaintances or most competent advisors to act as executors and trustees.
   
5. Asset Protection - Wills can use Trust structures to ensure that assets are protected for all beneficiaries.  (“To those weak of understanding make not over your property, which Allah has made a means of support for you, but feed and clothe them with it, and speak to them words of kindness and justice”  (An-Nisa, v5)).

6. Funeral wishes - wills provide a mechanism to ensure your funeral rites are performed according to Islamic practices and guidelines.
   
7. Muslim Charities - Wills enable you to make charitable donations to your favourite charities.

The presentation was extremely well received and there was much discussion during refreshments which came at the end of the seminar.  

The full presentation on Islamic Wills is attached here (with the permission of iWills).

If you would like to make an Islamic Will or would like to find out more about any aspect of the seminar, contact:

Haroon Rashid
Director I Will Solicitors Limited
e-mail: haroon@iwillsolicitors.com
iWills Solicitors Limited
201 Streetly Road, Erdington, Birmingham, B23 7AJ
Tel: 0121 683 6940
Mobile: 07739 165 245