Why You Need An Estate Plan and an Islamic Will
Feb 02, 2024
Today's topic is a bit on a serious note: have you ever thought about death and what happens to your assets when you pass away?
This is a topic that very few, if any, of my clients have ever spoken to me about, and it’s an incredibly important one. So today, I’m announcing that we will soon have a special guest here to share about estate planning and the importance of creating your own wills.
But for today, I just want to give you a brief heart-to-heart about the importance of having a will in place and why estate planning is the way to go.
The first thing a lot of families, especially parents, do not realize is that once you pass away, if you do not have an estate plan—whether it is living or not—in place, your assets will be frozen.
The law varies from state to state, but this is generally what will occur. And once your assets are frozen, it will take a lot of effort from your family members to get them unfrozen, which takes an emotional and financial toll on the already bereaved and grieving family.
We should be considerate of how we want our families to receive their due inheritance. We should all be mindful of this, but especially in Islam, where inheritance is not left to the mercy of anybody. It is mentioned in detail in the Quran, which means it is of extreme importance.
This makes it mind-boggling to me that many of us, including me for a very long time, are guilty of not having wills and estate plans in place for our loved ones once we do pass away.
I plan to talk about this in-depth about this particular topic with my guest, but I wanted to introduce it here first.
No one likes thinking about death and preparing for it—least of all our own—but the Quran is clear. We must take it seriously.
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