Islamic Family Waqf
وَقْف عَائِلِي إِسْلَامِي
Pronunciation: WAKF EYE-lee is-LAH-mee
A joint living revocable trust for Muslim couples, scholar-approved to manage assets in life and distribute by Faraid at death.
Definition
A modern Islamic estate-planning instrument: a joint living revocable trust for married Muslim couples that takes effect immediately upon signing, manages both spouses' assets during their lifetimes, and at the second spouse's death distributes the remainder to Quranic heirs (Faraid). The first scholar-approved Islamic Family Waqf in Canada was co-developed by ShariaWiz and Azzad Asset Management, the largest U.S.
Sharia-compliant investment firm. Unlike a simple Islamic will, a family waqf avoids probate for funded assets and gives the surviving spouse continuity of management.
Related Terms
Waqfوقف
An Islamic endowment — assets permanently dedicated to a charitable purpose.
Wasiyyahوصية
An Islamic will — allowing a Muslim to bequeath up to one-third of their estate outside the fixed inheritance shares.
Faraidفرائض
Islamic inheritance law prescribing fixed shares for heirs based on Quranic guidelines.
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Islamic Family Waqf (وَقْف عَائِلِي إِسْلَامِي) — A joint living revocable trust for Muslim couples, scholar-approved to manage assets in life and distribute by Faraid at death. A modern Islamic estate-planning instrument: a joint living revocable trust for married Muslim couples that takes effect immediately upon signing, manages both spouses' assets during their lifetimes, and at the second spouse's death distributes the remainder to Quranic heirs (Faraid). The first scholar-approved Islamic Family Waqf in Canada was co-developed by ShariaWiz and Azzad Asset Management, the largest U.S.
- A joint living revocable trust for Muslim couples, scholar-approved to manage assets in life and distribute by Faraid at death.
- Category: Estate Planning
- Related: Waqf, Wasiyyah, Faraid
- Compare related Shariah-compliant products on HalalWallet
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Reviewed by: HalalWallet Editorial Team
Last reviewed: 2026-07-01
Editorial Team, HalalWallet
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