Checklist for inheritance in South Africa
Understand Islamic inheritance law:
- Familiarize yourself with Qur'anic sharer heirs and their fixed shares
- Learn about agnatic heirs and how they inherit
- Understand the concept of wasiyya (bequest) and its one-third limit.
Consult Professionals:
- Meet with an Islamic scholar knowledgeable in inheritance law
- Consult a South African legal professional experienced in Islamic wills
- Consider meeting with a financial advisor for tax planning.
Create an Inventory of Assets and Liabilities:
- List all assets, including property, investments, and personal possessions.
- Note any jointly owned assets.
- Document all debts and liabilities.
Identify Heirs and Potential Beneficiaries:
- List all potential heirs according to Islamic law.
- Identify any non-heir beneficiaries you wish to include in your wasiyya.
Draft Your Islamic Will:
- Ensure it meets the requirements of the South African Wills Act
- Clearly state your intention to have your estate distributed according to Islamic law
- Specify the distribution of your estate according to Islamic inheritance law
- Include any wasiyya bequests (up to one-third of estate).
Address Specific Assets:
- Decide how to handle jointly owned property
- Plan for the distribution of business assets, if applicable
- Consider creating separate beneficiary designations for pension and retirement annuity funds and life insurance policies.
Provide for Dependents:
- Ensure adequate provision for your spouse, especially if they don't work outside the home
- Consider setting up trusts for minor children or dependents with special needs.
Plan for Non-Muslim Heirs, Adopted Children or Charities:
- If applicable, include bequests to non-Muslim family members, adopted children or charities within the one-third wasiyya limit.
Appoint an Executor:
- Choose someone knowledgeable in both Islamic and South African law
- Consider appointing co-executors if necessary.
Address Potential Conflicts with South African Law:
- Discuss strategies with your legal advisor to minimize conflicts between Islamic inheritance and South African inheritance laws
- Consider using legal instruments like trusts to achieve your goals.