Malaadhu Thar’wah ( ملاذ الثروة )

Through our lives, we spend so much time worrying about making a decent living Questions like; Will we have enough for a new home? Can we afford the school fees for our children’s education? Can I go on haji in my lifetime? But the years pass. You have built up an estate and achieved success

In Islam, wealth is considered a resource that facilitates the well-being of Muslims in this life and in the afterlife Unforeseen events do happen and such events can bring chaos and crises that negatively impacts our most efficacious attempts at arranging our affairs and putting in place a successful intergenerational business enterprise, lineage, family wealth and legacy

Our Islamic Estate planning services provide you with the guidance, tools and resources you need to preserve your wealth, family & legacy in accordance with Islamic guidelines.
Our services include the preparation of the wasiyah (Islamic Will), structuring of Waqf (Islamic Trust), Hibah (Islamic gift), undertaking Nazr (vow or commitment to carry out an act) settlement of debt, and distribution of assets.

Our Islamic Estate Planning Services

Our services include the preparation and structuring of:

• Wasiyyah (Islamic Will): A testamentary bequest that generally allows a Muslim to distribute up to one-third of their estate to non-heirs, subject to applicable Sharia principles.
  
  
• Waqf (Islamic Endowment): An Islamic endowment through which assets are dedicated for a specified religious, charitable or beneficial purpose, with the asset or its benefit preserved in perpetuity in accordance with the terms of the Waqf.
  
  
• Hibah (Islamic Gift): A voluntary gift or transfer of an asset made during the donor’s lifetime.

Our services also include Nazr (vow or commitment to carry out an act), settlement of debts, and the distribution of assets in accordance with applicable Islamic inheritance principles.

Islamic Estate Planning and the Wills Law of Lagos State

Islamic estate planning in Lagos requires consideration of both Sharia principles and the applicable Nigerian legal framework. The Wills Law of Lagos State provides the statutory framework governing wills and testamentary dispositions in Lagos State, while Islamic inheritance principles prescribe the distribution of an estate among eligible heirs.

A Muslim’s estate plan should therefore be structured with careful consideration of the applicable rules, including the one-third limit for Wasiyyah, the rights of prescribed heirs, lifetime gifts, debts and other obligations. The legal validity of a testamentary document and its compliance with Islamic inheritance principles are separate considerations and should be assessed appropriately.

At Fiduciary Services Limited, we help clients structure their Islamic estate plans with these considerations in mind.