An arrangement where a trustee holds property for beneficiaries.
In Islamic law
Waqf is the closest classical institution, though a waqf is perpetual and charitable in character while a Canadian trust is usually neither.
In Canadian law
Trusts can be created during life or by a will. They are used to hold property for minors, to provide for a dependant with a disability, and to manage tax.
No significant difference between the four Sunni schools is recorded on this point in the sources reviewed. Where a specific case turns on it, ask a qualified scholar rather than relying on a general summary.
Canadian legal detail
Treadstone Law, an Ontario firm with a wills and estates practice, covers the Canadian side of this in more depth:
- Trustee act creditor notice missing heir ontario
- Law practice trust funds when practice is sold ontario
- When does estate trustee need a bond ontario
This entry is general information, not legal or religious advice. Inheritance turns on the exact family circumstances. Confirm Canadian law with a lawyer in your province, and any religious ruling with a qualified scholar.