SUCCESSION PLANNING FOR MUSLIMS IN THE UAE: NAVIGATING SHARIA LAW AND LOCAL LEGISLATIONS FOR ASSET MANAGEMENT AND ESTATE PLANNING

AUTHOR – VIKSHITA POOJARY, INDEPENDENT AUTHOR,  EMAIL – VIKSHITA.POOJARY1@GMAIL.COM

BEST CITATION – VIKSHITA POOJARY, SUCCESSION PLANNING FOR MUSLIMS IN THE UAE: NAVIGATING SHARIA LAW AND LOCAL LEGISLATIONS FOR ASSET MANAGEMENT AND ESTATE PLANNING, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 4 (4) OF 2024, PG. 379-388, APIS – 3920 – 0001 & ISSN – 2583-2344.

Abstract

This write up critically analyses the concept of succession for a muslim in UAE under Sharia law, Federal Law No. (5) of 1985 on the Civil Transactions Law, and Federal Law no. (28) of 2005 on Personal Status of the United Arab Emirates. Examining its juridical dimensions and implications with the framework of the Sharia law. Succession is the process of organising and managing the transfer of assets. And how this tool of succession planning becomes an important tool for a Muslim to safeguard his assets. Furthermore, the concept of Hibah, as a form of voluntary transfer of property, is deep rooted in the Islamic jurisprudence and raises intricate questions related to contractual validity, intention, and adherence to the Sharia principle. Furthermore, analysing how estate planning and succession acts as an alternative mechanism in asset management. Dissecting the legal nuances and assessing its theological underpinnings by analysing verses stated in the holy books, Federal Civil Law statutes, and Personal Status Law.

Keywords- Hibah, Sharia Law, Muslim, UAE, Donor, Donee, Estate Planning