3 issues and their remedy of Joint ownerships issues in the Islamic estate planning

There are various types of Joint ownerships that you can learn more about under "Joint ownership in Islam." Tenancy-in-common is the most shariah compliant, but it may not always be possible to use this type of ownership due to the nature and common mode of ownership today. Wassiyyah provides an estate planning solution to meet your need for any type of Joint ownership you may have.

The best way to do this is to have Houses, lands, or similar assets in Tenancy-in-Common with 50-50% or any other proportion you may agree with your Joint owner spouse. It will not entirely avoid Probate, but it will make it much easier for you to go through Probate with a definite portion partnership.

Tenancy-in-Common is not only the best solution for an individual, but most major businesses do use this type of partnership that works seem less.

Not the best, but the second preferred way to do this is, Have Houses, lands, or similar assets in Joint Tenants with your spouse or children. It will entirely avoid the Probate as your assets would not even cover under Will or Trust (unless there is a specifically enforced agreement in the Trust). However, this creates the Shariah-compliant issue as the transfer of the assets to the surviving spouse (i.e. Right of Survivorship) by completely bypassing the Islamic Law of Inheritance.

There is a remedy to it as you and your spouse and children should have the internal written agreement that once the estates go to the Surviving spouse, they have to distribute the 50% portion as per Islamic Law of Inheritance outside the Last Will or Trust. But still, you are relying on your Joint partner to follow through with your wishes. You can make a written internal agreement. This strategy will not only avoid Probate but there will be tax relaxation as well.

Not the best, but you can have your Investments and insurance policies have beneficiaries designated equal proportions or any other proportion you may agree with your beneficiaries.

To comply with Shariah, your beneficiary once receives it; He or she should distribute the entire portion as per Islamic Law of Inheritance with an internal written agreement and nothing to do with Last Will or Trust. You are relying on him or her to fulfilling your wishes. If he or she follows, then it’s great that it will avoid Probate. If you do not nominate beneficiaries, they will have to go through either Last Will and face the Probate.