Islamic Estate Administration
Process of administration and liquidation of the asset, including settlement of all debts (actual and spiritual), disposition of alms and non-heirs, the division of the residuary estate to the ightful beneficiaries in accordance with Islamic Law of Inheritance.
2 types of Estate Administration
- For Testacy (Deceased dies with a wasiat); as-Salihin can be appointed as Executor in testator’s wasiat;
- For Intestacy (The deceased dies without having a Wasiat):
- For estate worth RM2 Million and above as-Salihin can be appointed by the deceased’s Faraid heirs to act as administrator and liquidate the assets, do settlement of debts and final distribution to beneficiaries.
- For estate worth less than RM2 Million (Movable and immovable asset), as-Salihin may assist the deceased’s family member in obtaining letters of administration and distribution order from Small Estate Department at respective Department of Land and Mines (JKPTG).
Benefits
- As-Salihin is the only trust company in Malaysia which focuses and provide services in Islamic Estate Administration;
- Perpetual Existence and Continuity;
- Accountability and Impartiality;
- Professionalism and Competence;
- Exemption from Administration Bond;
- Expert to advice on legal proceeding on estate and administration process.;
