1. Can he/she manage the wealth based on shariah?

Yes, he can manage the wealth based on shariah. This is because, a contract can only be
established in its actuality if the contracting parties has a legal capacity which is known as ahliyyah
(capacity). Capacity (ahliyyah) is the ability to acquire rights and exercise them as well as to accept
duties and perform them. There are two types of capacity ( ahliyyah):

-Capacity for acquisition of right (Ahliyyah wujub)

-Capacity for execution of duties (Ahliyyah al-ada’).

In this case, we will apply the Capacity for acquisition of right (Ahliyyah wujub). Capacity for
acquisition of right (Ahliyyah wujub) is also known as necessity competence. It means the legal
competency of a person that establishes right for himself and imposes obligation on him. Or it is a
capacity that enables him to execute duties in a way that is recognised by Shari’ah.

The underlying basis of this legal capacity is the human's life and his attribute of being a
human (sifah insaniyyah). Hence, every human being including the foetus in its mother’s womb
possesses this type of ahliyya.

( Mansuri, M.T. (2007). Islamic law of contract and business transaction.

New Delhi: Adam Publishers. )

Besides, under blood relationship, if the deceased have heirs to the estate such as surviving
parents, children and even siblings can inherit a portion of the estate. Of course if the deceased is
married to a muslim, the estate also goes to the surviving spouse. If all attempts to locate heir fails,
than the unclaimed estate shall be given to Baitul-Mal. The unfortunate assumption made by a lot of
muslims were, there is no necessity to do estate planning since their wealth is already covered under
faraid distribution.

In addition, that presumption is obviously incorrect because under the Probate &
Administration Act 1959 (revised 1972) all deceased estates are required by court to file in for
probate. In that case, even for a muslim who have predeceased, all assets shall be frozen pending
probate approval even if they have a wasiat, if not a lengthy process of applying for a letter of
administration shall also take place. Without proper planning, assets of deceased shall remain frozen
until an executor or administrator is appointed. Not only that, while estates are intestate, two
sureties are also required. As you would realised by now, the same probate and administration
applies to muslims too.
 Furthermore, with the growing numbers of muslim high net worth in the country, wealth
planning becomes more complex with mixtures of assets in local and global equities, real estates,
joint shareholders in a number of companies, etc. With such wealth complexities, there is a demand
for proper Islamic Estate Planning to preserve and protect the wealth for generations to come.

The concepts of property of rights are right of ownership, acquisition, usage and disposition.
There is no objection on the individual rights of property The right to own property is a part of
human nature. The nature of this rights and its limits: state ’s property, common property and
individual prop.

Islam states that Allah is the sole owner of property and human beings are just a trustee and
custodian in whom it implies the recognition to use and manage the properties in accordance with
Shari’ah rules, as property is given as amanah (trust) to individuals. There are various verses of al-
Quran referring to the principle of property rights, for instance: “Believe in Allah and His Messenger
and spend of that whereof He made you trustee ” (al-Quran, 57:7)

Property rights in Islam guarantees individual as well as corporation “the right to own
private property and economic resources, to make a profit, to expand jobs, to boost investment and
to increase prosperity.

(Land, Law and Islam: Property and Human Rights in the Muslim World . page 52. Hilary Lim. Zed
Books Limited. 2013. )