Financial planning in necessary in life for secured future. It should take into consideration future family members in case of sudden and unforeseen circumstances specially death. In some of such cases, complicated matters arise like inheritance, survivors’ wellbeing, legal matters arising for remaining property etc.
Death is certain for everyone. The Holy Quran says about death:
“Every soul shall have a taste of death.” (3:185; 21:35; 29:57).
“But to no soul will Allah grant respite when the time appointed for it (death) has come.” (63:11)
When someone passes away, the funeral cost is certain, which depends upon funeral rituals according to the faith of the deceased, local regulation etc. In Asian countries, funeral cost is reasonable. In Europe, North America, Australia the funeral cost is high. Therefore, the immediate relatives have to arrange for the above amount towards the funeral cost after the death of their loved one.
In most countries, when a person passes away, in absence of his/her registered/notarized Will, property left by the deceased are taken over by the government, and after that, immediate relatives have to go through lengthy and complicated legal formalities and have to pay towards legal cost for the property left by the deceased, which takes considerable time.
In case the deceased has made the Will as per Quranic Orders and/or law of the land, duly registered/notarized, his/her immediate relatives have to complete few legal formalities to recover the property left by the deceased, for which less time is required.
In Arab countries, in case of death of a person having written Will, his/her legal heirs have to go through formalities with Shariah Court, where all inherited properties are distributed by Shariah Court in accordance with Islamic Inheritance Law, as per Verses 10, 11 and 176 of Chapter 4 of Holy Quran.
While my stay in UAE, I have witnessed some such cases, where I was witness at Shariah Court to testify and confirm the identity of legal heirs of a deceased.
Therefore, it is strongly advised that Muslims should write the Will and get it registered/notarized. This will also fulfill the obligation of Holy Quran directives to write the Will as per Verses 2:180, 2:240, 5:106 etc. This is in order that no dispute arises after the death of an individual.
Also, it is strongly advised that the head of the family should open JOINT BANK ACCOUNT with the condition of RIGHT OF SURVIVORSHIP with his wife and/or his children, with the condition that ACCOUNT TO BE OPERATED WITH ANY ONE SIGNATURE.
In such case, in the event of death of one of the Joint Bank Account holders, one of the survivors can easily, legally can withdraw the money from such Joint Bank Account at any time. In North America, I have witnessed such few cases.
Therefore, it is strongly advised that the head of the family should write the Will, get it registered/notarized, and also open a JOINT BANK ACCOUNT as explained above.
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