The Deed of Gift or present (or Hiba, Hibah) is a strong Islamic estate plan, especially if you are wealthy. It helps minimize inheritance tax impacts down the road. It's a way of contract (i.e., aqd) in a legal term. The use of lifetime gifts is not limited to legal or specific religious applications but is broad. The Hibah differs from Faraid, which is automatic transfer upon death. Also, Hibah can be given in a lifetime to family members or others without restrictions. The Hibhah also differs from Waqf (i.e., Charitable endowment), which limits the ownership to some extent and requires granting perpetuity. Hibah, on the other hand, has no restrictions. There are other types, including Hibah Amanah (by Permodalan Nasional Berhad) and Hibah, the benefit distribution (by Takaful Ikhlas) however, Wassiyyah did not verify their validity. The use and abuse of a Deed of Gift can happen among children or family members, which is strongly prohibited in Islam. You can not give unequal or unjust gifts to children and must treat them equally without preferential treatment (or act of favoritism) and injustice, as stated in the Hadith: Bulugh al-Maram, Book 7, Hadith 928. This is the most Islamic jurist view (Ibn Qudāmah, al-Mughnī, vol. 8, 257). However, there are some differences of opinion among Sunni Islamic jurisprudence Madhab regarding preferential treatment among children that you will learn more about below. Generally, in the real world, Most attorneys agree that treating children equally is of utmost importance in estate planning. For those who treat children with inequality, their inheritance issues end up in court and remain unresolved for decades. Wassiyyah provides an intensive Deed of Gift (or Hiba) estate plan to meet your legal and shariah compliance. Wassiyyah will provide detailed instructions to complete your Deed of Gift (or Hiba) with your purchase. There are differences of opinion among Sunni Madhab (Hanafi, Shafii, Maliki, and Hanbali) that are included in all types of Deed of Gift (or Hiba) mentioned above. Wassiyyah has worked with highly qualified (Doctorate/Ph.D.) Sunni Islamic scholars for delivering the most comprehensive and quality Deed of Gift (or Hiba). Wassiyyah's expert also covered legal compliance, ensuring your Deed of Gift (or Hiba) complies legally in addition to Shariah. Wassiyyah has detailed instructions on all cross-border relations between legal and Islamic compliance.
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