as-Salihin as-Salihin Trustee BerhadTrustee Berhad

Your Islamic Your Islamic Estate Planning Estate Planning

SpecialistSpecialist

PENYELESAIAN LENGKAP PERANCANGAN HARTA

PUSAKA ANDA

Legally effective arrangement Legally effective arrangement for the disposition and management for the disposition and management

of a person’s estate according to of a person’s estate according to Syariah and Civil lawSyariah and Civil law

DEATH IS

CERTAIN!!

Missing!!

Missing!!

Why we need Islamic Estate Why we need Islamic Estate PlanningPlanning

The Main link to

CComplete FFinancial

PPlanning

The Main link to

CComplete FFinancial

PPlanning

Many problems will Many problems will arise without proper arise without proper

Islamic Estate Islamic Estate PlanningPlanning

Small EstateSmall Estate

RM 600kRM 600k

Court OrderCourt Order

RM 600kRM 600k

Grant of Probate(Testacy)

Letter of Administration

(Intestacy)

Letter of AdministrationWith Will AnnexedWith Will Annexed

(Partial Intestacy)(Partial Intestacy)

RM600,000 and below

Moveable Assets Only

(Testacy/Intestacy)

Wholly/Partly Immovable Assets

(Intestacy)

Amanah Raya Berhad District Land Administrator

Settlement of all funeral expenses;Settlement of all funeral expenses;

Settlement of debts (actual or spiritual);Settlement of debts (actual or spiritual);

Testamentary disposition;Testamentary disposition;

Settlement of any claim of Settlement of any claim of Harta Harta SepencarianSepencarian; ; Division of the residuary estate of the Division of the residuary estate of the deceased deceased in accordance with the principles in accordance with the principles of Faraid.of Faraid.

Harta Harta SepencariaSepencaria

nn

WasiatWasiat

HibahHibahTrustTrust

WakafWakafCharitabCharitab

leleDonatioDonatio

nn

Islamic EstateIslamic EstatePlanningPlanning

WasiatWasiat is an is an iqrariqrar or declaration of a or declaration of a person made person made during his lifetime with during his lifetime with respect to his property or respect to his property or benefit benefit thereof, to be carried out for the purpose thereof, to be carried out for the purpose

of charity or for any other purpose of charity or for any other purpose permissible by permissible by Islamic law after his Islamic law after his death.death.

Iqrar Iqrar is an admission made by a is an admission made by a person, in writing person, in writing or orally or by or orally or by gesture, stating that he is under an gesture, stating that he is under an obligation or liability to another person in obligation or liability to another person in respect respect of the same right.of the same right.

AssetFrozen

Application for dispensationof Sureties

orApplication for

Appointing 2 sureties(Administration Bond)

Administratorappointed

AssetFrozen

Application forgrant of Probet and Sijil Faraid

Probate grantedL.A granted

findingAdministrator

Consent inwriting from

All beneficiaries Executor

Application for Letters ofAdministration

(appointment of administratorand Sijil Faraid)

Intestacy(without will)

Testacy(with will)

Asset free Asset free

Testacy

Intestacy

Death

Death

Probate obtained*

Petition

6 months

Petition

2 months 1 year

1 year

Application to have sureties appointed

Letters of Administration (LA) process

Typical Time Frame

2 years 3 years

Notes * May take longer in some jurisdiction ** Petition for LA may take even longer if even one heir does not agree on the appointment or if the appointee is not willing to act *** Finding suitable sureties can be a hassle and this may further delay the process of obtaining the LA

Estate distributed

18 months

4 years30 months 5 years

Estate distributedLA obtained*

LOCATE THE WILL

Applying for a Grant of Applying for a Grant of ProbateProbate

Calling in testator’s Calling in testator’s assetsassets

Paying testator’s Paying testator’s debtsdebts

Preparing a statement of Preparing a statement of accountaccount

Distributing testator’s Distributing testator’s assets according to Wasiatassets according to Wasiat

Distributing testator’s assets according Distributing testator’s assets according to Faraidto Faraid

Administration of deceased’s estate

Avoid Family Contention

Vesting of deceased’s Vesting of deceased’s estate and the right to estate and the right to carry on with deceased’s carry on with deceased’s affairaffair

Calling in deceased’s Calling in deceased’s assetsassets

Exemption from Administration Bond

Appointment of GuardianAppointment of Guardian

Right to bequeath away 1/3 of the deceased estate to to non-heirsnon-heirs

Harta SepencarianHarta SepencarianProperty Property acquired;acquired;• by husband and wifeby husband and wife

• during the during the subsistence of a valid subsistence of a valid marriagemarriage

• both parties have both parties have contributed either contributed either directly or indirectly directly or indirectly towards the towards the acquisition of such acquisition of such property.property.

RM100k

RM40kRM60k

Direct ContributionDirect ContributionPENYELESAIAN LENGKAP PERANCANGAN HARTA

PUSAKA ANDA

RM100k

RM0k

RM100k

Indirect ContributionIndirect ContributionPENYELESAIAN LENGKAP PERANCANGAN HARTA

PUSAKA ANDA

• Hajjah Saudah Hajjah Saudah vv.. Hanafi; Hanafi;(Harta Sepencarian claim can be made (Harta Sepencarian claim can be made

after the death of the after the death of the spouse)spouse)

• Boto’ Boto’ vv.. Jaafar; Jaafar;((Accompanying husband during fishing trips Accompanying husband during fishing trips was considered as contribution)was considered as contribution)

• Robert @Kamarulzaman Robert @Kamarulzaman vv.. Ummi Ummi Kalthom Kalthom

(Husband and Muslim convert can also (Husband and Muslim convert can also claim Harta claim Harta Sepencarian)Sepencarian)

CASESCASES

PROPERTIES NOT PROPERTIES NOT DEEMED HARTA DEEMED HARTA

SEPENCARIANSEPENCARIAN• Gift received by way of Gift received by way of inheritance;inheritance;

• Gift received by way of Gift received by way of hibah hibah before and before and during marriageduring marriage

WHETHER EPF WHETHER EPF CONTRIBUTIONS CAN BE CONTRIBUTIONS CAN BE CONSTRUED AS HARTA CONSTRUED AS HARTA

SEPENCARIAN?SEPENCARIAN?Fatwa Majlis Kebangsaan Hal Fatwa Majlis Kebangsaan Hal Ehwal Ugama Islam MalaysiaEhwal Ugama Islam Malaysia

(22 Feb 2005)(22 Feb 2005)

EPF contribution cannot be EPF contribution cannot be construed as construed as Harta SepencarianHarta Sepencarian

Advantages of Harta Advantages of Harta Sepencarian Sepencarian DeclarationDeclaration All parties can decide and agree upon the way of All parties can decide and agree upon the way of

distributiondistribution Absolute satisfaction of parties as regards their Absolute satisfaction of parties as regards their respective shares respective shares Rights of both spouses fully protectedRights of both spouses fully protected Peace of mindPeace of mind Expedite distribution processExpedite distribution process Cost savingCost saving No contention@ disputeNo contention@ dispute Convenient and easyConvenient and easy

A Trust is a legal obligation that comes A Trust is a legal obligation that comes into existence when an individual into existence when an individual

(known as Settlor) transfers the legal (known as Settlor) transfers the legal ownership of his assets to another ownership of his assets to another

person (Trustee) to hold for the benefit person (Trustee) to hold for the benefit of the beneficiariesof the beneficiaries

SETTLOR TRUSTEE

BENEFICIARIES

Sets the terms and conditions of the trust & transfers the ownership

of trust assets to as-Salihin

Operation of Living TrustOperation of Living Trust

as-Salihin carries out the wishes of settlor as per the Trust Deed

The settlor may also The settlor may also name himself as one of name himself as one of beneficiaries of the beneficiaries of the Maintenance TrustMaintenance Trust

• Trust property is not considered part of the settlor’s estate

• You may decide on the terms of the distribution and these are not subject to Faraid

• There is no limit as to the amount you can place in a trust and your beneficiaries can be anyone, Muslim or non Muslim alike.

• Governed by the Trustee Company Act 1949 and the terms of the Trust Deed

Advantages of Living Advantages of Living TrustTrust

ADVANTAGES OF HAVING ESTATE PLANNING

1. To protect your estate and beloved ones1. To protect your estate and beloved ones

Unit Trust / Shares

$ $$ $

2. Expedite Legal Process

3. Saving Cost and Energy

4. Easy

5. Peace of Mind

as-Salihin is a trust company governed by as-Salihin is a trust company governed by the Companies Act 1965 and is registered the Companies Act 1965 and is registered pursuant to the Trust Companies Act 1949pursuant to the Trust Companies Act 1949

Established to fullfill the needs of Muslim to Established to fullfill the needs of Muslim to preserve, protect and distributepreserve, protect and distribute their hard their hard earned assets for the benefits of their loved earned assets for the benefits of their loved

ones through Syariah compliant estate ones through Syariah compliant estate planning.planning.

as-Salihin Trustee Berhadas-Salihin Trustee Berhad

Tun Dato’ Dr. Haji Mohamed Salleh AbasTun Dato’ Dr. Haji Mohamed Salleh Abas S.S.M, P.M.N, P.S.M, P.Y.G.P, S.P.M.T, D.P.M.T, J.M.N.S.M.T.LLB(Hons) S.S.M, P.M.N, P.S.M, P.Y.G.P, S.P.M.T, D.P.M.T, J.M.N.S.M.T.LLB(Hons)

(Wales) of Middle Temple, Barrister.(Wales) of Middle Temple, Barrister. Solicitor- General Malaysia 1969-1979Solicitor- General Malaysia 1969-1979

Federal Court Judge 1979-1984Federal Court Judge 1979-1984 Lord President 1984 – 1988Lord President 1984 – 1988

Member of Syariah Appeal Court, Kelantan 1998 - 2000Member of Syariah Appeal Court, Kelantan 1998 - 2000 Member of the Royal Commission on the Malaysian Police Force 2004– 2005Member of the Royal Commission on the Malaysian Police Force 2004– 2005

ChairmanChairmanas-Salihin Trustee berhadas-Salihin Trustee berhad

1. Tun Dato’ Dr. Haji Mohamed Salleh Abas1. Tun Dato’ Dr. Haji Mohamed Salleh Abas S.S.M, P.M.N, P.S.M, P.Y.G.P, S.P.M.T, D.P.M.T, J.M.N.S.M.T.LLB(Hons) S.S.M, P.M.N, P.S.M, P.Y.G.P, S.P.M.T, D.P.M.T, J.M.N.S.M.T.LLB(Hons) (Wales) of Middle Temple, Barrister.(Wales) of Middle Temple, Barrister. Solicitor- General Malaysia 1969-1979Solicitor- General Malaysia 1969-1979 Federal Court Judge 1979-1984Federal Court Judge 1979-1984 Lord President 1984 – 1988Lord President 1984 – 1988 Member of Syariah Appeal Court, Kelantan 1998 - 2000Member of Syariah Appeal Court, Kelantan 1998 - 2000 Member of the Royal Commission on the Malaysian Police Force 2004– Member of the Royal Commission on the Malaysian Police Force 2004–

20052005

2. Tunku Dato’ Dr. Hajjah Sofiah Jewa 2. Tunku Dato’ Dr. Hajjah Sofiah Jewa D.J.M.K., D.S.D.K., J.P., L.L.M., (Miami), Ph.D, (Miami) D.J.M.K., D.S.D.K., J.P., L.L.M., (Miami), Ph.D, (Miami) of Lincoln’s Inn, Barrister, Advocate and Solicitor of Lincoln’s Inn, Barrister, Advocate and Solicitor Founder of Yayasan Tun Suffian BerdaftarFounder of Yayasan Tun Suffian Berdaftar..

3. Datuk Dr. Jemilah Mahmood3. Datuk Dr. Jemilah Mahmood M.D., M.O.C., M.R.C.O.G., D.P.M.P., P.J.N. M.D., M.O.C., M.R.C.O.G., D.P.M.P., P.J.N. Consultant Obstetriction & Gynaecologist,Consultant Obstetriction & Gynaecologist, Founder and President of Mercy MalaysiaFounder and President of Mercy Malaysia

BOARD OF DIRECTORSBOARD OF DIRECTORS

4. Puan Fatimah Binti Mahmood 4. Puan Fatimah Binti Mahmood Associate Member of the Institute of Chartered Secretaries and Associate Member of the Institute of Chartered Secretaries and

AdministratorsAdministrators

5. Tuan Hj Abdul Aziz Peru Mohamed5. Tuan Hj Abdul Aziz Peru Mohamed Former Senior General Manager Ambank BerhadFormer Senior General Manager Ambank Berhad (2002-2005)(2002-2005) Former General Manager Maybank BerhadFormer General Manager Maybank Berhad (1999-2002(1999-2002))

BOARD OF DIRECTORSBOARD OF DIRECTORS

1.1. Tun Dato’ Dr. Haji Mohamed Salleh AbasTun Dato’ Dr. Haji Mohamed Salleh Abas

2.2. S.S Dato’ Setia Haji Mohd Tamyes bin Abd.Wahid S.S Dato’ Setia Haji Mohd Tamyes bin Abd.Wahid Dato’ Sri Utama Diraja Mufti Negeri SelangorDato’ Sri Utama Diraja Mufti Negeri SelangorB.A. Syariah Wal QanunB.A. Syariah Wal QanunUniversiti Al-Azhar, MesirUniversiti Al-Azhar, Mesir

3.3. Prof. Dato’ Paduka Dr. Mahmood Zuhdi bin Hj. Abdul MajidProf. Dato’ Paduka Dr. Mahmood Zuhdi bin Hj. Abdul MajidB. Sh (N.P), M. Sh (Azhar) M. Phil (Kent) Ph.D (UM) B. Sh (N.P), M. Sh (Azhar) M. Phil (Kent) Ph.D (UM) Dip. Edu (A. Shams)Dip. Edu (A. Shams)Professor in Fiqh dan Usul DepartmentProfessor in Fiqh dan Usul DepartmentAkademik Pengajian IslamAkademik Pengajian Islam University MalayaUniversity Malaya

4.4. Dr. Siti Mashitoh binti MahamoodDr. Siti Mashitoh binti MahamoodB. Sh. (UM), M.Sh. (UM),B. Sh. (UM), M.Sh. (UM), Ph.D (Birmigham)Ph.D (Birmigham)Head of Syariah and Laws Department, University MalayaHead of Syariah and Laws Department, University Malaya

BOARD OF SYARIAH ADVISORSBOARD OF SYARIAH ADVISORS

Chief Executive OfficerChief Executive Officer

Tuan Hj. Abdul Aziz Peru Mohd

Financial AdvisorFinancial Advisor

Encik Johari Low Bin Abdullah@Low Han Hing

Group Chairman Rockwills International Sdn Bhd

Dato’ Dr. Hj. Yaacob Hussain Merican D.J.M.K., A.S.D.K., J.P., LL.M (Miami), Ph.D, (Miami)

of Lincoln’s Inn, Barrister, Advocate and Solicitor

Honorary ConsultantHonorary Consultant

1.1. Harta Sepencarian DeclarationHarta Sepencarian Declaration

2.2. WasiatWasiat

• Wasiat-writing serviceWasiat-writing service

• Wasiat Custodial ServiceWasiat Custodial Service

• Wasiat Translation ServiceWasiat Translation Service

• Appointment of ExecutorAppointment of Executor

• Document Custodial ServiceDocument Custodial Service

• GuardianshipGuardianship

3.3. Estate AdministrationEstate Administration

4.4. HibahHibah

Perancangan Harta Islam yang ditawarkan Perancangan Harta Islam yang ditawarkan oleholeh

as-Salihin Trustee Berhadas-Salihin Trustee Berhad5.5. Trusteeship Trusteeship• Living TrustLiving Trust• Amanah Saraan HidupAmanah Saraan Hidup• Amanah InsuransAmanah Insurans• Amanah PendidikanAmanah Pendidikan• Amanah Persaraan EmasAmanah Persaraan Emas

6.6. WakafWakaf

7.7. Declaration HibahDeclaration Hibah