Shariah Legacy Planning and Mechanisms

Many Muslims believe they cannot plan for the distribution of their assets upon death, thinking that it must strictly follow the Muslim law of Faraid and that their plans are ultimately subject to these principles. However, the primary objective of Shariah legacy planning is to protect dependants, ensure justice and fairness, and facilitate a smooth distribution of assets. Effective legacy planning requires understanding available mechanisms and their application, which depend on asset ownership structures and relevant laws, especially considering evolving assets such as CPF savings, insurance policies, and investment products. Planning must also consider changes in social, economic, and family structures, as well as the Administration of Muslim Law Act. A thorough understanding of AMLA is essential for navigating these complexities. This book provides detailed insights into the application of asset distribution mechanisms within a secular state, helping to understand and implement effective legacy planning. Adopting the right mechanisms and strategies is crucial to harmonise Shari'ah principles with state law, ensuring a comprehensive and legally sound legacy plan.