💰 Family finances · #126

The bank is offering a hibah amanah (trust gift) product for estate planning. What do I need to understand before signing up?

A hibah amanah can help, but you need to understand exactly what happens to the property during your lifetime and after your death. Usually, you gift the property to the recipient, and a trust company holds it until you die. Ask a few important questions before signing. Can you still sell the property or revoke the gift? What fees are charged? What happens if the recipient dies first? Make sure the product is endorsed by the company's Shariah adviser. Do not use hibah to unjustly deny heirs their rights, because that intention is itself a problem. Take the documents home and read them with your spouse before deciding. See family finances.

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This answer is general reference, not a fatwa. For your situation, consult the religious affairs office, a Syarie lawyer or your state Syariah Court.

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