I have seen the result of sharia
law estate planning firsthand with a client’s parent. They are a family of two
sons and five daughters. The will was written leaving the assets to the sons
(millions in art, property, securities and real estate) and mere thousands to
each of the daughters. Son number one tried to convince his brother to share the
estate more equally, but he refused. So son number one gave part of his
inheritance to his sisters–but not in equal portions. He decided who needed and
deserved each amount. The sisters and brothers no longer speak to each other.
The brothers’ relationship is strained, each thinking the other wrong. The
sisters who received less don’t speak to the other sisters or the "generous"
brother.Tell my sad tale to your father. Tell him that your sisters
will think that he loves them less than he loves you. Of course, you can gift a
portion of your inheritance to your sisters. But if you don’t give them
substantially equal shares to yours, you will create a worse problem.
Clare Stenstrom, Bourne Stenstrom Capital Management, New
York It is possible for your dad to
remain faithful to sharia law without causing a rift between you and your
sisters. I am assuming that if your father predeceases you, he will leave behind
your mother, you and your two sisters. Your mother will receive one-eighth of
his estate, you will receive 7/16 and each of your sisters will receive 7/32.
Your share is equal to the two shares of your sisters. Under Islamic law, two-thirds of the estate must be distributed
according to this forced share requirement, but one-third can be distributed at
the decedent’s discretion. Several schools of law hold that your father can
distribute the one-third to his legal heirs as long they consent to the
deviation from the strict share percentages. You can suggest to him that you and your mother are willing to
take less of that one-third in order for you to be equal with your sisters. As
such, your father would not violate accepted Islamic practice. Abed Awad, Law Offices of Abed Awad, Clifton,
N.J. Send Us Your Questions. Are you wrestling with family issues, business governance
or succession decisions, investment or estate planning dilemmas, problems
related to philanthropic activities or foundations, or a similar predicament? We
invite you to email a detailed question to advisorsforum@worth.com.
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