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Taxation & Estate Planning
: Death and Taxes BlogArticle on Islamic Wills
By Joel A. Schoenmeyer
Slate recently had an interesting article about Islamic Wills -- here is a link. From the article:
Verses 11, 12, and 176 in the fourth book of the Quran lay out exactly how a Muslim should dispose of his wealth after death. Two-thirds must be distributed as follows, when applicable: One-sixth should go to your father; one-sixth to your mother; half or one-quarter to your husband, depending on whether you've had children; and one-quarter or one-eighth to your wife, also depending on whether you've had children. As for those hypothetical kids, the fractions vary, but boys get two shares for every one share that girls get.Evidently this gets so complicated that Muslim estate planners use software, like this.
Full post as published by Death and Taxes Blog on February 03, 2011 (boomark / email).
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