Estate plans quick overview

Updated: Nov 17, 2023

ISLAMIC WILL

Create your Islamic Will to protect faith, wealth, wishes, and inheritors in compliance with Islamic inheritance and legal laws. Wassiyyah offers single or multi-country Islamic Wills. Wassiyyah also offers International Wills, which you can create if your country is part of the UNIDROIT.ORG convention. You can learn more about TYPES OF WILLS HERE.

LIVING WILL or MEDICAL DIRECTIVE

A Living Will or Medical directive is an estate plan to manage end-of-life health care, including medical treatments, organ donations or transplantations, etc. Appreciation and the importance of Living Will can only be realized by learning more about Living Will. Create your Living Will or Medical directive to allow or disallow medical treatment-related preferences, organ donations, and organ transplantations. You should create a Living Will if you do not prefer to do organ donations or transplantations, which can be difficult for family members if they have to decide in the absence of a living Will. There are cases that end up in a court when opinion differs among family members when a person does not have a Living Will in case of unconscious coma-like situations or after death. Wassiyyah offers country-specific Living wills for most countries worldwide. Wassiyyah also offers jurisdiction (i.e., state, province, territory) specific living wills for the USA, Canada, Australia, and part of Europe. Wassiyyah will provide specific instructions for your estate plan purchase to help you complete estate plans and meet compliance. You can learn more about LIVING WILL HERE.

POWER OF ATTORNEY FOR FINANCE

Create your Power of Attorney for Property to manage your Property or Financial affairs nationally and internationally before and after physical or mental disability. You can manage properties before or after mental incapacity but cannot manage after mental incapacity. Wassiyyah offers country-specific Power of Attorney for most countries worldwide. Wassiyyah also offers jurisdiction (i.e., state, province, territory) specific Power of Attorney for USA, Canada, Australia, and part of Europe. You can learn more about TYPES OF POWER OF ATTORNEY HERE.

POWER OF ATTORNEY FOR HEALTHCARE

Power of Attorney or Personal directive relates to property, health care affairs' choices, personal care, and inheritance. Personal care is about your values, beliefs, likes, not likes, lifestyle, and more. Create your Power of Attorney for Medical or Healthcare to manage your affairs before or after physical or mental disability. Wassiyyah offers country-specific Power of Attorney for most countries worldwide. Wassiyyah also offers jurisdiction (i.e., state, province, territory) specific Power of Attorney for USA, Canada, Australia, and part of Europe. You can learn more about TYPES OF POWER OF ATTORNEY HERE.

POWER OF ATTORNEY FOR INHERITANCE

Power of attorney as it relates to inheritance is not a popular estate plan, but you should have some understanding and arrangement made with your attorney to continue supporting you after death until the executor or trustee takes over. Wassiyyah currently does not offer the Power of Attorney for Inheritance due to the lack of legal framework availability in most parts of the globe. You can learn more about TYPES OF POWER OF ATTORNEY HERE.

DEED OF GIFT or HIBAH

You can create a Deed of Gift or Hibah during your lifetime as part of estate-planning optimization. This differs from a Testamentary Bequest offered as part of Wills or Trust after death. Every type of Deed of Gift or Hibah is customized to meet specific needs. Deed of Gift or Hibah is a strong estate plan that has both Islamic and legal implications. Wassiyyah offers a Deed of Gift that is compliant with Legal and Islamic laws. You can learn more about DEED OF GIFT OR HIBAH HERE.

TRUST or WAQF

Trust or Waqf is the most popular estate plan to protect inheritors and manage assets while alive and effective after death. Not all countries have regulations for Trust or Waqf. However, you will not have any option other than creating Trust if you live and have substantial assets. Create your Trust or Waqf to protect faith, wealth, wishes, and inheritors in compliance with Islamic inheritance and legal laws. Wassiyyah will offer an individual and Joint family Trust in a few weeks for the USA, Canada, Australia, UK, India, China, Muslim-majority countries, and more. You can learn more about TRUST OR WAQF AND TAX HERE.

TRUST REVOCATION FORM

Trust revocation may not be required if you want to keep the Trust active and funded. However, in a situation where you no longer want to keep the Trust, then systematic revocation of the Trust is required. Leaving non-active Trust may have adverse consequences so, you should revoke it as soon as you decide. Wassiyyah offers step by step guide and a Trust revocation form to ensure you do not miss any legal requirements. You can create Trust revocation agreements for the USA, Canada, Australia, UK, India, and more. You can learn more about TRUST HERE and TRUST REVOCATION HERE.

TRUST DEED OF ASSIGNMENT

In order to cover non-titled assets and items, Wassiyyah offers a country-specific Deed for transferring assets and items IN or OUT of Trust. You can learn more about Trust DEED OF ASSIGNMENT HERE.

POUR-OVER WILL

A pour-over will differ from the standard Islamic will (i.e., family or bachelor's will). A pour-over will may be used as a backup document for a trust or waqf to cover any assets left out of the trust or waqf. Wassiyyah offers the first type of pour-over will out of three types. Wassiyyah will provide more information when you are creating pour-over wills. You can learn more about POUR-OVER WILL HERE.

LETTER OF WISHES

Create a Letter of Wishes to express your values, beliefs, and preferences. Letter of Wishes may be used along with an Islamic Will or Trust as a non-binding personal agreement for many different purposes. Wassiyyah offers customized Letter of Wishes to meet your needs to comply with Islamic law without impacting legality.

ISLAMIC INHERITANCE CERTIFICATE

The Islamic Inheritance certificate is an effective Islamic estate planning tool for Executors and Trustees. This certificate can be used with Islamic Wills or sometimes with Trust. Whether you create Islamic Wills or Trust with Wassiyyah or other services, this certificate can support Probate or other court processing by Executors and Trustees. You can learn more about ISLAMIC INHERITANCE CERTIFICATE HERE.

BENEFICIARY DEEDS

Create a beneficiary deed for a family or individual. Knowing the scope and limitations of Beneficiary Deeds to ensure validity. Creating shariah-compliant beneficiary deeds can ensure compliance. Learn more in the BENEFICIARY DEEDS HERE.

FREE ONLINE SESSIONS FOR BRIEF

Wassiyyah offers free online sessions on Islamic estate planning, inheritance, joint assets, etc. You may consider booking one for a mosque, Muslim association, group, family, or Muslim community. You can book an online SESSION HERE before purchasing an estate plan. Wassiyyah offers a session that is not a replacement for legal advice.

ONE-TO-ONE SESSION

Wassiyyah offers one-to-one consultation if you need help deciding, creating, and completing estate plans in general. You may consider BOOKING HERE for you and your family if you need help or may have questions. Wassiyyah offers a session that is not a replacement for legal advice.

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