A study on the practice of hibah (inter vivos gift) among muslim community: a case study in Nilai, Negeri Sembilan / Nur Shuhadah Nazarudin

Wealth is derived from something that someone possessed or beneficially entitled to. Someone must work hard in order to get the property about what they are dreamed for such as land, house, rights, shares as well as jewellery. However, people must know how to manage the property in order to get blessing from Allah where it also has mentioned in Al-Quran and Hadith. The importance of managing the property and wealth is the securest and most risk minimizing method to protect the intrinsic value of assets. By well-planned asset distribution, it will help in shortens lengthy court procedure. In case where the beneficiaries are minors, the appointment of trustworthy individuals as guardians in order to hold, invest or use the property behalf the minors is using estate planning. Due to the lack of knowledge and management there has been an increasing trend in volumes of unclaimed inheritance properties over the years. The increasing trend of frozen assets has become unresolved issues faced by the Muslim community in Malaysia. Therefore this research is aim to study on the practice of hibah (Inter Vivos Gift) within the contextual form of Islamic estate planning in Nilai, Negeri Sembilan. This research is based on questionnaire survey and the data were collected from 150 respondents. The data was analysed by using SPSS version 22.0.