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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| Format: | Article |
| Language: | English |
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UUM Press
2022-01-01
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| Series: | UUM Journal of Legal Studies |
| Subjects: | |
| Online Access: | https://e-journal.uum.edu.my/index.php/uumjls/article/view/13133 |
| _version_ | 1811175567258550272 |
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| author | Muhamad Mu'izz Abdullah Abdul Bari Awang Nasrul Hisyam Nor Muhamad |
| author_facet | Muhamad Mu'izz Abdullah Abdul Bari Awang Nasrul Hisyam Nor Muhamad |
| author_sort | Muhamad Mu'izz Abdullah |
| collection | DOAJ |
| 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.
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| first_indexed | 2024-04-10T19:37:53Z |
| format | Article |
| id | doaj.art-9fb37f9f5778415c935fea54a012dd11 |
| institution | Directory Open Access Journal |
| issn | 2229-984X 0127-9483 |
| language | English |
| last_indexed | 2024-04-10T19:37:53Z |
| publishDate | 2022-01-01 |
| publisher | UUM Press |
| record_format | Article |
| series | UUM Journal of Legal Studies |
| spelling | doaj.art-9fb37f9f5778415c935fea54a012dd112023-01-30T03:16:17ZengUUM PressUUM Journal of Legal Studies2229-984X0127-94832022-01-01131THE ANALYSIS OF TRUST INSTRUMENTS IN MALAYSIA AS ISLAMIC ESTATE PLANNING: THE CHALLENGES AND EFFECTSMuhamad Mu'izz Abdullah0Abdul Bari Awang1Nasrul Hisyam Nor Muhamad2Islamic international University MalaysiaDepartment of Fiqh and Usul Fiqh, Islamic International University of MalaysiaIslamic Civilization Academy, Faculty of Social Sciences and Humanities Universiti Teknologi Malaysia, Skudai, Malaysia 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. https://e-journal.uum.edu.my/index.php/uumjls/article/view/13133Trusttrusteeproperty managementIslamic estate planning |
| spellingShingle | Muhamad Mu'izz Abdullah Abdul Bari Awang Nasrul Hisyam Nor Muhamad THE ANALYSIS OF TRUST INSTRUMENTS IN MALAYSIA AS ISLAMIC ESTATE PLANNING: THE CHALLENGES AND EFFECTS UUM Journal of Legal Studies Trust trustee property management Islamic estate planning |
| title | 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_short | 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 |
| topic | Trust trustee property management Islamic estate planning |
| url | https://e-journal.uum.edu.my/index.php/uumjls/article/view/13133 |
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