islamic wills and applicable us laws
DESCRIPTION
A special presentation by Mufti Abrar Mirza and Attorney Zubair M. Tajuddin, Esq.Rasoolullah (Sallallahu Alayhi Wasallam) commanded: "It is not proper for a person to let even two nights pass without him having prepared a written wasiyyat (will/testament)." BukhariIt is incumbent for every Muslim to have his/her written will in a safe place at all times. Without a valid Will/Trust, between 6% and 40% of your assets could go to taxes and fees, and your children could be split up and sent to foster homes. The need for an Islamic Will is therefore imperative especially when living in this part of the world.TRANSCRIPT
ISLAMIC WILLS & APPLICABLE U.S. LAWS
By Mufti Abrar Mirza and Zubair M. Tajuddin
Esq.
www.audiblewisdom.org
INHERITANCE WORKSHOP
Preparation for Death & The Distribution of the Estate
Mufti Abrar Mirza
PREPARATION FOR DEATH
Only certainty in life
Not just something to await, but to prepare
for
Death on īmān
Advice to family
Settling of debts
INHERITANCE & BEQUESTS
Importance in Islam
Mīrāth (Inheritance)• Shares specified in the Qur’an
Wasiyyah (Bequests)• Up to one-third• Inheritors ineligible
REACTING OF DEATH
Grieving within Shar’ī limits
Rushing janāzah
Sending thawāb
DISTRIBUTION OF ESTATE
Burial expenses
Settling of debts
Wasiyyah
Mīrāth
MISCONCEPTION
Claims of unfairness in son receiving twice the
share of daughter
Woman’s wealth for herself only
Man’s wealth for him and all dependents• May include wife, parents, siblings, etc.
PRACTICAL ADVICES
Shares in one’s lifetime
Ownership of small, low value items
Joined family homes
All necessary details• Make-up fasts and prayers• Hajj• Scholars• Custody
PRACTICAL ADVICES
Medical treatment
Timely execution of the will
Should not forego one’s share
INTRODUCTION TO ESTATE PLANNING
Preparation for Death & The Distribution of the Estate
Zubair M. Tajuddin, Esq.
ESTATE PLANNING
Estate Planning is the legal and
financial process of arranging and
managing your assets during life
and after death.
There are Six primary issues.
ISSUE #1 DISTRIBUTION
WHO will receive distribution?
HOW MUCH will they receive?
HOW will they receive it?
WHEN will they receive it?
WHAT will they receive?
ISSUE #2 GUARDIANSHIP OF MINOR CHILDREN
Who can care for minor
children?
What is the guardianship
process?
How to appoint guardians?
ISSUE #3 PROBATE TAXES
How much are Probate
Taxes?
US Citizen v. non-US Citizen
How to avoid Probate Taxes?
ISSUE #4 PROBATE COURTS
What is the Probate Court process
and why is it necessary?
How and why to avoid probate
courts?
What are the benefits and
drawbacks to avoiding probate
courts?
ISSUE #5 DISABILITY
Who will make financial
decisions?
Who will make health care
decisions?
What are your end of life
decisions?
ISSUE #6 LIABILITY
Is there a risk of professional
liability?
Is there a risk of investment
liability?
What assets can be
protected?
What does protecting an
asset mean?
CONTACT INFORMATION
Zubair M. Tajuddin, Esq.
The Law Office of Tajuddin & Khan, P.C.
(630) 624-1396
PO Box 481
Lombard, IL 601481400 E. Touhy Ave.,
Suite 409
Des Plaines, IL 60018