Wills & Power Of Attorney
Islamic Wills
In countries where intestate succession laws differ from Islamic law, such as England and Wales, it becomes essential to write a Will to ensure your estate is distributed according to Islamic principles. Fortunately, drafting a Will that complies with Islamic law is relatively straightforward. This allows your assets to be allocated in line with the rules laid out in the Qur’an. Additionally, and perhaps most importantly, a Will enables you to appoint guardians for your children. It can also clarify matters like the status of joint accounts and the living arrangements of those in the household.
Under Islamic inheritance law, all wealth left behind by the deceased, including cash, properties, and personal belongings, forms the estate. After funeral expenses are deducted, any outstanding debts owed to others must be settled. The remaining estate is then divided among the heirs. For example, the wife of the deceased is entitled to one-eighth of the estate, with the rest distributed between the sons and daughters according to Qur’anic guidelines.
Under Islamic inheritance law, all wealth left behind by the deceased, including cash, properties, and personal belongings, forms the estate. After funeral expenses are deducted, any outstanding debts owed to others must be settled. The remaining estate is then divided among the heirs. For example, the wife of the deceased is entitled to one-eighth of the estate, with the rest distributed between the sons and daughters according to Qur’anic guidelines.
FAQs
Who should be making a will?
Wills and Lasting Powers of Attorney are the cornerstones of Estate Planning, meaning everyone should have them in place. However, certain individuals have an even greater need to act. If you fall into any of the following categories and do not yet have a Will, it’s important to take action now:
- Single Parents – Single parents are amongst the least likely to have a will in place, but arguably they are the people who need to be making a Will the most. The reason is simple, if you die who will look after your children? This is not something that can be left to chance and a Will is the document that allows you to appoint the guardians that you want for your children. Whilst appointing the children’s guardians you will also make other important decisions like who will look after their money, what age they will receive their inheritance and what can be released to them and their guardians to fund their lifestyle.
- Cohabiting Couples – Think your other half will get what’s yours if you die? Think again, whilst there is talk about changing the law around co-habitation, as we go to press co-habiting partners have no rights of inheritance unless there is a valid will which leaves what’s yours to your partner. When making your Will you might want to consider guaranteeing provision for you children (especially if they don’t all share the same parents) through the use of trusts or specific gifts. If you don’t take action your partner could end up in the courts trying to get back what could have been theirs if valid wills were in place.
- Second Marriage/ Relationship – A second marriage or relationship can be complicated, especially if someone else’s kids are involved. A carefully constructed will can make sure that everyone involved is provided for in a fair and equitable way. This is essential if you want to avoid a great deal of bad feeling and heartache after you have gone.
- Over 55’s – As we get older a properly executed will becomes more and more powerful, depending on your circumstances your Will can help you save on inheritance tax, help to minimise your exposure to care fees, and together with Lasting Powers of Attorney ensure that control of your assets and choice over your lifestyle stay within the family.
- Business Owners – Your Will can ensure the continuity of your business and is potentially the most important tax planning vehicle for your family at your death. Our favourite question is ‘Who would run your business if you were not around?’ without a valid Will there is often no answer to the question, with a Will your business can continue to thrive long after you have departed.
Does my partner inherit everything automatically?
If you haven’t made a Will and live in England or Wales and have an estate worth less than £270,000, the surviving husband, wife or civil partner will inherit all of the estate. Complications arise when you are not married, have an estate in excess of £270,000, or have children from a previous relationship. The myth of the common law husband or wife.
Without a valid will, unmarried partners cannot inherit anything from each other. If you are unmarried and living with a partner and are looking at making a Will, please contact us directly so we can advise you on the best route forward. Most couple will make Mirror Wills, so called because the two documents mirror each other’s intentions.
Can I change my will later?
Yes, you can change your will at a later date if you change your mind.
Where do I store my will?
A will is only valid if it is in writing and signed. It must be the original document as copies are not acceptable. Make sure your Will is securely stored and that your executors know where it is, as you will not be here to tell them where to find your Will. We offer secure Will storage at our offices, ensuring peace of mind for you and your loved ones. With our service, you will receive a brochure containing copies of your Will, along with two Will storage cards—one for you and one for your executor—so that the location of your Will is always known when the time comes.
How can you draft a Will when you are not a solicitor?
We are a firm affiliated with five professional bodies, including STEP (Society of Trust and Estate Practitioners), which signifies our specialist qualifications in trust and estate law.)