20 June 2018
There is a general misplaced idea that estate planning is all about having a Will and once this is in place, distribution of wealth will be sorted out later in terms of the Will. A Will after all, is a must under Islamic law of inheritance and these laws have been dealt with extensively in surah an-nisa of the Qur’an, in the Hadith and in jurisprudential writings. Estate planning therefore is an important aspect of one’s life but there is a general unawareness of many issues related to its fiqh understanding and how wealth accumulated over one’s lifetime is to be distributed. Added to that is acquiring knowledge on how wealth has to be protected and the need to grow that wealth with minimum risk as one ages until it is eventually distributed to beneficiaries. Over time therefore, assets must be invested wisely and in ways that would make it tax effective and legally compliant. Presently, many people invest their savings in superannuation funds, trusts and fixed assets and so it is important to ensure such savings are not affected adversely by changes in law in the areas of: Wills; taxes; trusts; superannuation and powers of attorney.
In this lecture I will start by explaining issues surrounding Wills before moving onto other aspects of Estate Planning. As you can imagine, this is a complex area and may require a series of lectures to cover the rest of the topics. Come and attend this lecture as there is a lot to be learnt about you, your future and your next-of-kin.
Dr Mahmood Nathie is an Islamic finance scholar and practitioner. He is a chartered accountant by profession with over four decades of experience in the accounting, finance and tax profession. He achieved his PhD with academic excellence from Griffith University. He also holds post-graduate degrees in Economics, Taxation and Finance. Academically, he has published in numerous journals, appeared and presented numerous papers at major Islamic finance conferences.
Presently, he teaches Islamic studies and Islamic Finance at UniSA’s Centre for Islamic Thought and Education. He is heavily engaged in research examining Islamic financial literacy among Australian Muslim adults and Islamic schools with the research focused on examining the level of financial literacy prevalent within these groups. His work in this field has now lead to collaborative research with partners in Malaysia, Indonesia and Brunei and other countries. His other research interest include: examining the role of waqf funds and their resource utilisation; alternative housing finance within Australia and elsewhere; Shari’ah complaint investments; retirement and estate planning and, micro business enterprises. He takes a keen interest in community affairs, engaging with local social groups and financial institutions.
DATE: 20 June 2019 Thursday
TIME: 5:45 for 6pm start to 7pm
VENUE: C1-60 Lecture Theatre, University of South Australia, Magill Campus
Parking after hours is free, park along Playhouse Lane
