Administration of the deceased’s estates: Analysis on the effect of nomination under the Islamic Financial Services Act 2013

It is a trait rule that in the administration of the deceased’ estate, the beneficiaries are entitled to the deceased’s asset, subject to the remnant of the asset. Notwithstanding other types of inheritance estate, the asset under nomination is governed under the nomination rules set by the differen...

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Main Authors:	Nasrul, Muhammad Amrullah, Mohd Salim, Wan Noraini, Abdul Hak, Nora, Halim, Akmal Hidayah, Abdul Manab, Siti Nuramani
Format:	Conference or Workshop Item
Language:	English
Published:	Future Academy 2017
Subjects:	K Law (General)
Online Access:	http://irep.iium.edu.my/59284/ http://irep.iium.edu.my/59284/ http://irep.iium.edu.my/59284/19/59284-Administration%20of%20the%20Deceased%E2%80%99s%20Estates.pdf

id	iium-59284
recordtype	eprints
spelling	iium-592842017-11-14T08:00:03Z http://irep.iium.edu.my/59284/ Administration of the deceased’s estates: Analysis on the effect of nomination under the Islamic Financial Services Act 2013 Nasrul, Muhammad Amrullah Mohd Salim, Wan Noraini Abdul Hak, Nora Halim, Akmal Hidayah Abdul Manab, Siti Nuramani K Law (General) It is a trait rule that in the administration of the deceased’ estate, the beneficiaries are entitled to the deceased’s asset, subject to the remnant of the asset. Notwithstanding other types of inheritance estate, the asset under nomination is governed under the nomination rules set by the different authorities, which gave rise to several nomination effects. Some of these nomination prevents the asset to be distributed to the rests of beneficiaries, other than the nominee. Other nomination effect grants the authority to the nominee as the administrator to that particular asset, without considering the capacity and ability of such nominee in distributing the asset. While the purpose of nomination is to assist the beneficiary in the process of obtaining the deceased’s asset, the differences in the nomination effect tend to cause confusion, leading to disputes between the nominee and the beneficiaries in claiming the ownership of the estate. This paper discusses the position of the asset under nomination through the analysis of provisions under the Islamic Financial Services Act 2013 in relation to the administration and the distribution of the deceased’s estate. The research is conducted through the means of a library-based method which utilises written materials in several sources including journal articles, statutes, textbooks and cases. The finding in this study indicates that the lack of control by the institutions over the nomination process has led to the adverse implication involving the disputes between the parties. It is therefore suggested that the lawmaker needs to amend the nomination rules in order to harmonise the rights of the nominee and the beneficiaries of the deceased’s estates respectively. Keywords: nomination, distribution of asset, disputes and estate administration. Future Academy 2017 Conference or Workshop Item PeerReviewed application/pdf en http://irep.iium.edu.my/59284/19/59284-Administration%20of%20the%20Deceased%E2%80%99s%20Estates.pdf Nasrul, Muhammad Amrullah and Mohd Salim, Wan Noraini and Abdul Hak, Nora and Halim, Akmal Hidayah and Abdul Manab, Siti Nuramani (2017) Administration of the deceased’s estates: Analysis on the effect of nomination under the Islamic Financial Services Act 2013. In: 9th UUM International Legal Conference (ILC 2017), 23-24 September 2017, Sintok Kedah. http://www.futureacademy.org.uk/publication/EpSBS/
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English
topic	K Law (General)
spellingShingle	K Law (General) Nasrul, Muhammad Amrullah Mohd Salim, Wan Noraini Abdul Hak, Nora Halim, Akmal Hidayah Abdul Manab, Siti Nuramani Administration of the deceased’s estates: Analysis on the effect of nomination under the Islamic Financial Services Act 2013
description	It is a trait rule that in the administration of the deceased’ estate, the beneficiaries are entitled to the deceased’s asset, subject to the remnant of the asset. Notwithstanding other types of inheritance estate, the asset under nomination is governed under the nomination rules set by the different authorities, which gave rise to several nomination effects. Some of these nomination prevents the asset to be distributed to the rests of beneficiaries, other than the nominee. Other nomination effect grants the authority to the nominee as the administrator to that particular asset, without considering the capacity and ability of such nominee in distributing the asset. While the purpose of nomination is to assist the beneficiary in the process of obtaining the deceased’s asset, the differences in the nomination effect tend to cause confusion, leading to disputes between the nominee and the beneficiaries in claiming the ownership of the estate. This paper discusses the position of the asset under nomination through the analysis of provisions under the Islamic Financial Services Act 2013 in relation to the administration and the distribution of the deceased’s estate. The research is conducted through the means of a library-based method which utilises written materials in several sources including journal articles, statutes, textbooks and cases. The finding in this study indicates that the lack of control by the institutions over the nomination process has led to the adverse implication involving the disputes between the parties. It is therefore suggested that the lawmaker needs to amend the nomination rules in order to harmonise the rights of the nominee and the beneficiaries of the deceased’s estates respectively. Keywords: nomination, distribution of asset, disputes and estate administration.
format	Conference or Workshop Item
author	Nasrul, Muhammad Amrullah Mohd Salim, Wan Noraini Abdul Hak, Nora Halim, Akmal Hidayah Abdul Manab, Siti Nuramani
author_facet	Nasrul, Muhammad Amrullah Mohd Salim, Wan Noraini Abdul Hak, Nora Halim, Akmal Hidayah Abdul Manab, Siti Nuramani
author_sort	Nasrul, Muhammad Amrullah
title	Administration of the deceased’s estates: Analysis on the effect of nomination under the Islamic Financial Services Act 2013
title_short	Administration of the deceased’s estates: Analysis on the effect of nomination under the Islamic Financial Services Act 2013
title_full	Administration of the deceased’s estates: Analysis on the effect of nomination under the Islamic Financial Services Act 2013
title_fullStr	Administration of the deceased’s estates: Analysis on the effect of nomination under the Islamic Financial Services Act 2013
title_full_unstemmed	Administration of the deceased’s estates: Analysis on the effect of nomination under the Islamic Financial Services Act 2013
title_sort	administration of the deceased’s estates: analysis on the effect of nomination under the islamic financial services act 2013
publisher	Future Academy
publishDate	2017
url	http://irep.iium.edu.my/59284/ http://irep.iium.edu.my/59284/ http://irep.iium.edu.my/59284/19/59284-Administration%20of%20the%20Deceased%E2%80%99s%20Estates.pdf
first_indexed	2023-09-18T21:23:58Z
last_indexed	2023-09-18T21:23:58Z
_version_	1777412067397992448

Administration of the deceased’s estates: Analysis on the effect of nomination under the Islamic Financial Services Act 2013

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