Winding Up a Muslim Estate

We provided a general perspective on the need for IEP and covered areas of living trust, wasiat, harta sepencarian, wakaf, executorship and estate administration. However, such explanations only go so far as to provide Muslims with possible alternatives to faraid for consideration. They do not address the practical aspects taht go into winding up a Muslim estate, whether they embrace the alternatives discussed or not.

In relation to winding up estate, lawyers or trust companies for that matter, are merely facilitators. Lawyers or trust companies can only act on information and supporting documents furnished to them. Following is a common but non-exhaustive documents that are required for winding up a deceased 's estate:

• Original and extract death certificates of the deceased;
• The extract is submitted to the relevantMahkamah Syariah to apply for a Sijil Faraid;
• Information on the deceased's parents and grandparents must be ascertained with death certificates;
• List of surviving heirs, copies of their Identity Cards or birth certificates;
• Copy of deceased's Marriage Certificate, if applicable;
• List of assets,with copies of evidence over same such as land titles, bank account book;
• List of liabilities with copies of evidence over same, if any;
• valuation report on all immovable properties belonging to the deceased;
• Wasiat or trust deed executed by the deceased.
  

It is equally important for us to prepare and organise worldly affairs so that when death occurs, our surviving heirs are not burdened or overwhelmed.

Source: SmartInvestor Magazine, August 2006 by Jasmin Jamaluddin of AsSalihin Trustee Bhd