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The analysis of Trust Instruments in Malaysia as Islamic Estate Planning: The Challenges and Effects

Efficient and effective Islamic estate planning not only provides convenience to Muslim but also capable of driving national economic progress and development. One of the instruments of Islamic estate planning is trust instrument which is based on Civil Law. The effect of not implementing the trust...

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Main Authors: Abdullah, Muhamad Mu'izz, Awang, Abdul Bari, Nor Muhamad, Nasrul Hisyam
Format: Article
Language:English
Published: UUM Press 2022
Subjects:
K Law (General)
Online Access:https://repo.uum.edu.my/id/eprint/28810/1/UUMJLS%2013%2001%202022%20107-129.pdf
https://repo.uum.edu.my/id/eprint/28810/
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spelling my.uum.repo.288102023-01-31T09:00:58Z https://repo.uum.edu.my/id/eprint/28810/ The analysis of Trust Instruments in Malaysia as Islamic Estate Planning: The Challenges and Effects Abdullah, Muhamad Mu'izz Awang, Abdul Bari Nor Muhamad, Nasrul Hisyam K Law (General) Efficient and effective Islamic estate planning not only provides convenience to Muslim but also capable of driving national economic progress and development. One of the instruments of Islamic estate planning is trust instrument which is based on Civil Law. The effect of not implementing the trust at an early stage can be seen in the property acquired as it is not managed effectively and indirectly harms the beneficiary. Therefore, this study will try to identify what are the challenges in the implementation of trust, which is not implemented efficiently and looking at the effects of late Islamic estate planning during a lifetime. This study is a qualitative study by analyzing previous articles, related statutes, and looking at the application of trust instrument in trust institutions in Malaysia. To achieve the objectives of this study, the authors conducted interviews with officers at Amanah Raya Berhad (ARB), which is the largest Public Trustee in Malaysia and this year has reached the 100th anniversary of its establishment. The finding of the study found that the trust instrument has significant effects in assisting Islamic estate planning. In conclusion, Islamic estate planning during a lifetime should not be taken lightly by society as it is detrimental to the family and national economy. UUM Press 2022 Article PeerReviewed application/pdf en cc4_by https://repo.uum.edu.my/id/eprint/28810/1/UUMJLS%2013%2001%202022%20107-129.pdf Abdullah, Muhamad Mu'izz and Awang, Abdul Bari and Nor Muhamad, Nasrul Hisyam (2022) The analysis of Trust Instruments in Malaysia as Islamic Estate Planning: The Challenges and Effects. UUM Journal of Legal Studies (UUMJLS), 13 (01). pp. 107-129. ISSN 2229-984X
institution Universiti Utara Malaysia
building UUM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Utara Malaysia
content_source UUM Institutional Repository
url_provider http://repo.uum.edu.my/
language English
topic K Law (General)
spellingShingle K Law (General)
Abdullah, Muhamad Mu'izz
Awang, Abdul Bari
Nor Muhamad, Nasrul Hisyam
The analysis of Trust Instruments in Malaysia as Islamic Estate Planning: The Challenges and Effects
description Efficient and effective Islamic estate planning not only provides convenience to Muslim but also capable of driving national economic progress and development. One of the instruments of Islamic estate planning is trust instrument which is based on Civil Law. The effect of not implementing the trust at an early stage can be seen in the property acquired as it is not managed effectively and indirectly harms the beneficiary. Therefore, this study will try to identify what are the challenges in the implementation of trust, which is not implemented efficiently and looking at the effects of late Islamic estate planning during a lifetime. This study is a qualitative study by analyzing previous articles, related statutes, and looking at the application of trust instrument in trust institutions in Malaysia. To achieve the objectives of this study, the authors conducted interviews with officers at Amanah Raya Berhad (ARB), which is the largest Public Trustee in Malaysia and this year has reached the 100th anniversary of its establishment. The finding of the study found that the trust instrument has significant effects in assisting Islamic estate planning. In conclusion, Islamic estate planning during a lifetime should not be taken lightly by society as it is detrimental to the family and national economy.
format Article
author Abdullah, Muhamad Mu'izz
Awang, Abdul Bari
Nor Muhamad, Nasrul Hisyam
author_facet Abdullah, Muhamad Mu'izz
Awang, Abdul Bari
Nor Muhamad, Nasrul Hisyam
author_sort Abdullah, Muhamad Mu'izz
title The analysis of Trust Instruments in Malaysia as Islamic Estate Planning: The Challenges and Effects
title_short The analysis of Trust Instruments in Malaysia as Islamic Estate Planning: The Challenges and Effects
title_full The analysis of Trust Instruments in Malaysia as Islamic Estate Planning: The Challenges and Effects
title_fullStr The analysis of Trust Instruments in Malaysia as Islamic Estate Planning: The Challenges and Effects
title_full_unstemmed The analysis of Trust Instruments in Malaysia as Islamic Estate Planning: The Challenges and Effects
title_sort analysis of trust instruments in malaysia as islamic estate planning: the challenges and effects
publisher UUM Press
publishDate 2022
url https://repo.uum.edu.my/id/eprint/28810/1/UUMJLS%2013%2001%202022%20107-129.pdf
https://repo.uum.edu.my/id/eprint/28810/
_version_ 1756687043325329408
score 13.211869

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