ISLAMIC

Where a Muslim has wealth, it is important to have a Wasiat written. A Wasiat is a legal document that takes effect upon death of the testator (maker of the Wasiat). The Wasiat contains the last instructions of the testator to distribute his/her wealth to the heirs and chosen beneficiaries, subject to applicable Islamic laws. As the Wasiat is ambulatory in nature, it allows the testator to revoke or amend the Wasiat during the testator's lifetime.

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In addition to leaving the final instructions to distribute wealth, the Wasiat would normally include the following:

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• Appointment of experienced and knowledgeable executor to carry out the instructions in a timely and professional manner, which can be fulfilled by members of ATCM providing Islamic trustee services;

• Appointment of the guardian to provide care for the minor children of the testator; and 

• Naming beneficiaries and substitute beneficiaries not being Faraid heirs to receive up to 1/3 of the estate.