Hasbrouck Heights, NJ. Shariawiz announced today the release of its highly anticipated Islamic Family Waqf/Trust product. The Shariah-compliant family waqf/trust, a first in the United States, is designed to help Muslim American families with the distribution of assets and the care of children at the time of a spouse’s death. The product, created in collaboration with the halal investment firm Azzad Asset Management, is now available at Shariawiz.com.
Abed Awad, CEO & Founder of Shariawiz, said: “The mission of Shariawiz is to enable every Muslim American to make a faith-fulfilled estate plan and leave a legacy. The Shariawiz and Azzad collaboration has made the process of making an Islamic Family Waqf simple, accessible, and affordable.”
In response to numerous requests, Shariawiz conceived and created a Sharia-compliant estate plan where the surviving spouse would manage their assets in trust, and after they both pass, their waqf/trust assets would be distributed to their Islamic heirs. The collaboration with Azzad resulted in a family trust that is both valid under American law and consistent with Islamic rules for inheritance and estate planning. Both parties conducted the legal research and consulted with Muslim scholars, leading to the first scholar-approved Islamic Family Waqf/Trust in the United States.
The new product helps families organize and manage their assets, avoiding legal disputes and probate court and creating avenues for the orderly distribution of family bequests and charitable giving.
Shariawiz is the leading Islamic estate planning online portal in the United States that offers legal forms and information about Islamic estate planning and SharÄ«’a rules of inheritance, including a scholar-certified Islamic Inheritance Calculator. Since its launch in 2020, Shariawiz.com has released the first Sharia-compliant Individual Waqf/Trust in the United States and was awarded “Best Innovative Halal Solution” at the Halal Expo and Summit 2020.
Contact Shariawiz at 1 (888) 4 SHARIA [1 (888) 474-2742] or at [email protected] for more information.
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