Really pleased to see that someone has come up with a service to make Islamic wills automated online, validated by both a mufti and with a legal sign off for 98 GBP is fantastic!
MA in Islamic Banking and Finance
Alim under the tutelage of Shaykh Akram Nadwi
Previously qualified and worked at city law firms Ashurst LLP and Debevoise & Plimpton LLP
Previously qualified and worked at city law firm Squire Patton Boggs LLP
Alim from Darul Uloom Bury
BA in Banking and law
Previously Islamic scholar at National Zakat Foundation
Can I change my will once you have written it?
Yes! You have two options:
What if I submit my will and need to make changes to it in the few days following?
You can change your will as many times as you need to in the week it takes for us to get your will over to you.
After that if there are minor changes, we can do those as well as a courtesy.
Do you offer professional executor services?
Not at this stage.
Do you offer probate services?
Not at this stage.
Are your wills structured to avoid inheritance tax?
IFG Wills are not structured to avoid inheritance tax.
That being said, the nil-rate band for inheritance tax is £325,000, there is an additional nil-rate band for your home of £150,000 for assets inherited by your family, and any assets inherited by your legal spouse are also tax-exempt. All this means that 94% of people do not have to pay inheritance tax at all when they die.
So for 94% of people the IFG Will is suitable and you’d be paying £100s extra for a trust-based will unnecessarily. However if you have assets over £1m, please drop us a line via our contact page and we can point you in the right direction to get a bespoke trust-based will done.
Do you offer a spousal will?
Yes. Each spouse has to get their own will written.
If you and your spouse each get an IFG Will at the same time we offer a 25% discount on the second will. Just drop us a line letting us know who your spouse is and we will refund the appropriate amount.
You guys are corporate lawyers who presumably can charge a lot – why is IFG Wills so cheap? What’s the catch?
Both of us (Mohsin and Ibrahim) have quit our corporate legal careers to focus full-time on IFG as we believe strongly that there is a need for strong personal finance education and resources for the UK Muslim community. If people like us do not take a risk and sacrifice a bit, no one will. IFG Wills is a subsidiary of www.islamicfinanceguru.com.
IFG Wills works for us from a commercial perspective as a lot of the will production is automated using sophisticated programming. This means our job is cut down from laborious copy-pasting to just pure legal review. Ultimately this then saves you guys £100s of pounds.