Q: Kindly advise me on the following as well as how I should go about setting up a trust.
1. I have a few properties which I wish to make waqf and wish to have full control of. I wish to distribute funds (rental) to charitable institutions, but if need be, so then I should be able to utilize the funds for myself (for instance, I must be able to use the funds for myself in certain months and for distribution in certain months certain months). On my demise, the trustees should take full control and use it fully for charity.
2. Will I be able to sell the property should I feel the need? For example, if property A is not performing well, could I dispose of it and use the funds to purchase property B? In this case, will property B automatically become waqf or will it be necessary for me to start the process all over again?
3. In the event of my demise, what control will the trustees have? Will they be able to sell and buy more properties in the benefit of the waqf?
4. Is it necessary to give the waqf a name because I like to remain anonymous? If it is necessary to give the trust a name, I request that would you kindly suggest a name for me?