PREPARATION AND EXECUTION OF HIBAH DOCUMENTS
Wasiyyah Shoppe Berhad hold the reputation as pioneer and innovator of hibah preparation and execution in Malaysia since 2004. Our first Shariah Court Hibah Order was obtained from Alor Setar Shariah High Court in 2005. Since then, more than 300 similar Shariah Court Order has been obtained from various states Shariah Court all over Malaysia except Sabah and Sarawak.
Wasiyyah Shoppe is the biggest and most experience hibah document provider in Malaysia. Over time Wasiyyah Shoppe Berhad has developed it’s expertise in hibah documentation for properties (unencumbered and encumbered), company’s shares, joint account, jewelleries, vehicles, cooperatives shares and Tabung Haji account.
Assets that has been declared under hibah that satisfy all of hibah conditions will not become the estate of the deceased. The ownership of the assets will be donee’s and will not be divided according to the faraidh law.
CRITICAL GROUPS WHO NEEDS WASIYYAH SHOPPE’S
HIBAH SOLUTION :
Couples without any child may face some difficulties upon the demise of the spouse due to the surviving spouse only entitle to 1/4 ( portion for surviving wife ) or ½ ( portion for surviving husband ) of the estates while the remaining balance belongs to the deceased’s parents or siblings ( in a case where the deceased father has passed away earlier than the deceased ). In many cases, inharmonious situation may exist among the surviving spouse and the deceased’s parents / siblings.
Wasiyyah Shoppe’s Hibah Solution : It is advisable for a couple under this category to Hibah their intended asset/s to their spouse. In the event of the death of any party, the surviving wife / husband already owns the Hibah asset absolutely.
Couples with adopted child/children
According to Faraidh law, adopted child is not entitle to the estate left behind by the adopted parents. The deceased’s estates will be divided according to the Faraid law which includes spouse, parents and in some cases, the deceased’s siblings.
Wasiyyah Shoppe Hibah Solution: The adopted parents can Hibah any of their assets to the adopted child. The hibah assets will be excluded from the deceased’s estates thus will not be divided according to the faraid law.
Couples with daughters only.
In the case of deceased’s father had passed away earlier, the division according to Faraidh law for the estates will be mother (if the mother is still around), spouse and the deceased’s siblings. Inharmonious situation frequently occurs when the surviving spouse need to deal with the deceased’s siblings for the estate’s division.
Wasiyyah Shoppe Hibah Solution: Couples in this category can Hibah their intended assets to their daughters or spouse. The Hibah assets will be excluded from the estates and will not be divided according to the Faraidh law.
Couples with mentally disabled child/children.
Division of Faraidh does not differentiate between normal and mentally disabled child. It only differentiates between gender. It is critical for parents to allocate extra assets and appointing an asset guardian to support their mentally disabled child as the child will not be able to support themselves throughout their life.
Wasiyyah Shoppe Hibah Solution: Parents may Hibah certain assets (moveable or immovable) for their mentally disabled child and appoint an asset guardian among trusted individual or a trustee company to hold the Hibah assets on behalf and for the benefits of the mentally disabled child.
Couples with sons and daughters
Faraidh law stated that a daughter will receive half a portion compared to a son. In many cases, parents love their daughter and son equally and therefore want their children to receive the assets equally.
Wasiyyah Shoppe Hibah Solution: Parents can hibah their assets to the children on equal portion regardless the gender and the distribution formula shall take force.
Couple with minor (below 18) children
We often hear about fatal accident which caused the death of young couples who leaves behind surviving minor children. Beside the children, the parents and sometimes the siblings of the deceased are also entitled to the estates according to faraidh law. As the children are still minor and require substantial assets to support their livelihood before they complete their study and able to be economically independent, sharing the estates with other heirs will pose a difficult situation.
Wasiyyah Shoppe Hibah Solution : With Hibah mechanism by Wasiyyah Shoppe, parents will be able to Hibah their intended assets to their minor children and appoint a trustworthy guardian ( individual or trustee company ) to hold on trust the assets on behalf of their minors. The donee will receive the assets absolutely and the assets cannot be claim by other faraidh heirs.
Couples who bought properties using a joint loan.
Ownership of a property if bought under joint loan is considered an equal portion between the spouse (unless there are any agreement stated otherwise). In the event of one of the couples dies, portion of the property own by the deceased must be divided according to rightful heirs according to Faraidh Law that includes not just the surviving spouse and children, but can also be the parents and siblings. Another half of the remaining portion shall remain with the surviving spouse.
While the loan balance of the deceased for the half portion maybe settled by insurance / takaful, the surviving spouse’s loan for the remaining half portion is still needed to be serviced. Problem may arises between heirs of the deceased’s portion (if involving parents and siblings) and the surviving spouse.
Wasiyyah Shoppe Hibah Solution : Couples can Hibah the properties that they bought using a joint loan to a common donee i.e their children. Upon demise of either party, the portion owned already belong to the children. The strategy will totally eliminate any possible dispute and problem between the surviving spouse and the parents / siblings (in the case where the parents/sibling is also the faraidh heirs). The surviving spouse can continue to service his/her loan knowing the fact that deceased’s portion already belong to the children.
Couple with encumbered assets
It is a norm for us to buy our properties using loan from financial institution. In the event of death by a borrower, normally the balance of the loan shall be settled by an insurance / takaful policy (if there is any). However, it is also a norm that the insurance / takaful does not cover the whole loan balance. The remaining loan balance still need to be settled by the family members / estates.
Dispute arises when the rightful heirs according to the faraid law intend to claim their right but refuse to jointly settle the remaining loan balance.
Wasiyyah Shoppe Hibah Solution: Encumbered assets can be hibah to anybody intended by the borrower including the spouse. After the completion and execution of Hibah aqad and conditions, the assets already belong to the donee. If the donee is the spouse, he / she will have no issue in settling the remaining loan balance as the assets already belong to them.
In the event of death of a polygamous husband leaving behind biological children from any past or current marriage, each surviving wife will share a total portion 1/8 allocated for wife in faraid law. If the deceased has two wives, each wife will receive 1/16, if there are 3 wives, each wife will receive 1/24 and if there are 4 wives, each wife is entitled to 1/32 each. In many instances, there will be disputed among the wives regarding the division of estates.
Wasiyyah Shoppe Hibah Solution: Polygamous husband can Hibah his assets according to his intention and requirements of each family. For example, the house which is resided by family of the first wife, is hibah to the first wife and so on. The husband can also Hibah moveable assets to wife with minor children to support their livelihood.
A businessman who owns company’s shares
Company shares also considered as estates of the deceased upon his / her demise. The rightful heirs according to the Faraid law is entitle to claim the shares according to their portion. The main challenges often occurred in company’s shares succession are dispute among heirs and the inability of the heirs to act as a shareholder / director due to lack of knowledge, skills and experience. The disputes if not contain can pose a great disruption to the business.
Wasiyyah Shoppe Hibah Solution: The shareholder can Hibah his/her shares to any heirs or third party whom the shareholder trust knowledgeable and experience enough to carry out the responsibility as a shareholder / director.
Individuals with complex assets portfolio
In most cases, individuals with complex and diversified assets portfolio may has specific intention and wishes on the distribution of certain assets. Due to the complex regulations binding each high valued asset, the occurrence of future disputes among heirs after the demise of the asset owner seems inevitable.
Wasiyyah Shoppe Hibah Solution: The assets owner may Hibah his intended assets to any heirs or beneficiaries according to his/her wishes. There will be no dispute among heirs in the future as the assets has already been Hibah during the lifetime of the asset’s owner.
For a Mualaf, all of his assets during his lifetime will not be inherited by his Non-Muslims family members. If a Mualaf dies leaving no Muslim heirs according to faraid law, all his estates is success by Baitul Mal, the states’ religious council’s treasury body.
Wasiyyah Shoppe Hibah Solution: A Mualaf can Hibah his/her assets to his Non-Muslims family members. By doing so, he will be able to manifest his loves and responsibility towards his Non-Muslims family member thus uplifting the image of Islam as the religion of loves and ukhwah.
For elderly singles, their faraidh heirs will be their parents and / or siblings. The singles may have his/her own wishes on how their assets will be distributed.
Wasiyyah Shoppe Hibah Solution: The singles can Hibah their assets to whomever they wish. The Hibah assets shall not be distributed according to faraidh law.
ADVANTAGES OF WASIYYAH SHOPPE’S HIBAH
100% Shariah compliance documents and execution
Wasiyyah Shoppe Berhad is a 100% Shariah compliance trustee company. All our Hibah document’s format and execution strategy have gone through rigorous Shariah filter process to ensure that our Hibah is Shariah compliance, Shariah law compliance and enforceable by Malaysian law. Our Shariah Panel with decades of experience in Shariah inheritance matters are accountable and responsible to ensure the non-compromise standard of Shariah compliance in our Hibah services.
Malaysian most experience Shariah trustee company in Hibah execution
Wasiyyah Shoppe Berhad is the first organization in Malaysia that introduced Hibah execution systematically to the public in 2004. The first Hibah order was obtained from Shariah Court of Alor Setar in 2005. With more than 30,000 clients subscribing to it’s Hibah solutions, Wasiyyah Shoppe Berhad is the biggest producer of Hibah document in Malaysia.
Research-based Hibah services
Wasiyyah Shoppe Berhad is the only syariah trustee company in Malaysia that award grants to university to carry out academic research in topics related to it’s business. The research covers nas, hadiths, opinion of imams and Islamic clerics and studies on relevant cases that has been decided at Shariah Courts. The findings of the academic research enable Wasiyyah Shoppe Berhad to discover Shariah compliance innovative ground breaking solutions including subject that related to Hibah.
Harmonization of Syariah and Civil Law
Implementation of Hibah documents made by Wasiyyah Shoppe is executed entirely at Syariah Court but harmonize with related Civil law concerning the Hibah assets.
Hibah solution for encumbered assets
Wasiyyah Shoppe Berhad is the only Shariah trustee company in Malaysia that provides Hibah solutions for encumbered assets. The introduction of this service was as result of an academic research sponsored by Wasiyyah Shoppe Berhad in 2017. Muslim with encumbered assets now can Hibah their assets to whomever they wish and the Hibah is valid according to Shariah law.
Flexibility to withdraw Hibah.
Hibah made to children, grandchildren and your descendent, can be withdrawn anytime by the asset’s owner without the consent of Hibah recipients.
On optional basis, Donor can stipulate conditions to be agreed upon by the Donee in the Hibah document. One of the most popular condition is a father Hibah his house to his children with the condition that the children allows their mother to stay at the house as long as the mother still alive.
Upon agreement of both parties Donor and Donee, the Donor can also put a stipulation that while he is still alive, he will be allowed by the Donee to enjoy the benefits from the assets such as rental income or profit.
Proven track records
More than 400 Hibah order from Shariah courts has been obtained by Wasiyyah Shoppe Berhad since our inception in 2004. This is a solid proof that Hibah documents prepared by Wasiyyah Shoppe Berhad is enforceable by law.
WASIYYAH SHOPPE BERHAD PROVIDES HIBAH SOLUTION FOR FOLLOWING ASSETS:
(unencumbered and encumbered )