As-Salāmu ʿalaykum wa-Raḥmatu -llāhi wa-barakātuh. We are a joint family comprising of 2 unmarried sisters and me. One of my sisters, due to health reasons is not working and is provided Zakat by us to support her needs. She is approaching her fifties but is unable to understand and manage her financial matters on her own. We don’t have any other relatives who are or would be willing to support her financially. There are no state financial support benefits she is eligible for either. I want to set up a sort of investment scheme which generates regular income for her in future to try to cover her expenses. Can I allocate a significant portion of my Zakat on a yearly basis to fund such a scheme? If yes, how would the matter of Zakat payable on such scheme be addressed? If the scheme is in her name, the assets would exceed the Nisab value and I assume she would not be eligible for Zakat then. If I maintain the scheme in my name, after the first year and then annually, I assume I would be required to pay Zakat on the accumulated Zakat payments (assets of the scheme) of prior year(s)? I would appreciate your guidance regarding both the matter related to financial support and Zakat computation based on our specific situation. Jazak Allahu Khayran.
Collecting the Zakat in this fund must be given without undue delay (delaying payment beyond a year), and delaying it unduly without excuse is sinful.
وافتراضها عمري أي علي التراخي وصححه الباقاني وغيره وقيل فوري أي واجب علي الفوروعليه الفتوي كمافي شرح الوهبانية فيأثم بتأخيرها بلاعذر. قوله فياثم بتأخيرها الخ.... وقديقال المرادأن لايؤخر الي العام القابل لما في البدائع عن المنتقي اذلم يؤد حتي مضي حولان فقد أساء وأثم اه
(الدرالمختارمع ردالمحتار, كتاب الزكوة,ج.2س.271,سعيد)