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 Zakat on Gold Reserved for My Brothers and Sister Marriage

I have 200 gram of Gold that I reserved for the marriage of my two brothers and one sister (equally divided among them). I placed this in a bank locker and has no intention to use it for myself and intend that this is now my brothers and sister money. In the final calculation of my yearly zakat should I include this gold as my total wealth? Thanking in advance and may Allah bless you...

Answer:

Assalamu Alaikum wa Rahmatullahi wa Barakatuh

Dear Brother,

First of all, we commend your efforts on getting well-acquaintant with Islamic teachings and implore that Allah, the Most High (swt) grants you with all the best.

Dear brother,

You have intended to spend your reserved gold for your siblings’ marriage; however, you haven’t divided and delivered it among your siblings yet, so the possessor of the reserved gold is still you. Therefore, it is still in your responsibility and if one year has passed over the reserved gold, you should include it into your total wealth while calculating your yearly zakat.

 On the other side, if you divide the gold among your siblings and deliver to them, then the possessor will be your siblings. So, that will be in their responsibility to calculate whether to pay zakat or not.

Dear Brother,

If you have any further question about this issue or any other, please feel free to ask. We are here to assist you as best as we can.

 

Best Regards!... Kaynak: http://askaquestionto.us - Zakat on Gold Reserved for My Brothers and Sister Marriage

 

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Another question about this topic:

I am a working woman. I am taking care of all the expenditures and expenses of my family including my kids' school fees and other necessities. Do I need to pay Zakath for my gold and the savings I have for my kids, because my entire salary is spent for my family's needs. Kaynak: http://askaquestionto.us - Zakat on Gold Reserved for My Brothers and Sister Marriage

Answer:

Dear sister,

Regarding the zakat for your gold and savings; we should consider two cases:

First of all, is it over the nisab value? If yes, then;

Is it a wealth that you are saving for the future? Or is it a saving that you are spending to pay your basic needs and debts?

If you are saving it for the future, you are liable to pay zakat for the whole amount as long as it equals or exceeds the nisab value.

Or else; if you are spending it to pay your basic needs, then what you should do is to deduct your basic deeds and debts from your savings and pay the zakat of the remaining amount.

 

Why should I pay zakat for my savings though I’ll need them in the future?

A Muslim is obliged to pay zakat on the conditions that he is free, he has reached puberty and he possesses property of nisab value for a full lunar year, excluding his basic necessities and debts.

So, if a Muslim made a purchase and got into debt, then his debt is deducted from his wealth while calculating the zakat amount. However, if he has planned to buy something, but not bought yet, then he is still the possessor of the money, so he should give the zakat for it; because, the purchase hasn’t been made yet and he is not in debt yet. His plan for the purchase is just an intention and it doesn’t change the fact that he is the owner of his money.

Dear sister, it is the same for your case.  (Even if) You plan to spend your savings for children’s needs in the future, the fact remains that you haven’t spent it yet and you are not in debt yet. Thus, it is incumbent upon you to pay zakat for it. We hope that Allah, the Most Generous (swt) will bestow you and your family barakah, blessings and prosperity for implementing His blessed command, zakat.

If you have any further question about this issue or any other, please feel free to ask. We are here to assist you as best as we can.

 Best Regards!... Kaynak: http://askaquestionto.us - Zakat on Gold Reserved for My Brothers and Sister Marriage

Ask a Question to Us Team