Thursday, March 3, 2011

Have you written your WASIAT?

Do you know?

99% people have no Wasiat,
Only 1% have written their Wasiat
Malaysian Population = 26.5 Million
Muslim Population = 16.3 Million
But, less than 200,000 Muslim have written their Wasiat.

“Muslim are governed by Faraid Law not by Wills Act 1959…”
What is Faraid Law?
• Islamic Law that deals with the distribution of the estate of
a deceased person among his legal heirs in accordance to
Syariah law


Under Faraid Principles:
 The beneficiaries is fixed
 The amount of distribution to beneficiaries is fixed
 Non-Muslim beneficiaries are not entitled to claim
 Non-legal heirs have no rights to claim


What is WASIAT?
Wasiat is a declaration in prescribed form (written) of the
intention of the person making it of the matters which he
or she wishes to take effect upon his or her death until
which time it is revocable.


“A Wasiat ensures efficient distribution of assets and one
may include specific instructions to specific persons and
cater for special circumstances”


From the Hadith of Rasulallah SAW:
“It is not permissible for any Muslim who has something to
Wasiat to stay for two nights without having his Wasiat
written and kept ready with him”
(Hadith riwayat Bukhari and Muslim)


Note:
Jumhur Ulama said that writing Wasiat in Islam is strongly recommended
(Sunat Muakkad)


Why is Wasiat still necessary when inheritance is governed by Faraid law?
1. Expedite legal process
2. Faster distribution of the estate and less costly
3. Specify assets to specific beneficiaries
4. Provision to non-legal heirs up to 1/3 of total assets only
5. Strongly recommended in Islam
6. Own choice of executor, trustee and guardian
7. Mitigate family disputes


Benefits of Wasiat Writing
8. Accommodate process of claiming “Harta Sepencarian”
9. Can determine the age of entitlement up to 21 years old
10. Revocable
11. Can retain ownership of assets
12. No sureties required
13. Avoid depletion of assets
14. Final messages


“Do Not Wait Any Longer.Make Your Wasiat Today!”

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