It is narrated from Yahya bin Saeed that he bought some property for the orphan boys of his brother, then that property was sold at a high price.

Imam Malik, may Allah have mercy on him, said: There is nothing wrong with trading with the wealth of an orphan when the guardian of the orphan is trustworthy and honest, and he will not be held liable if there is a loss.

Imam Malik, may Allah have mercy on him, said: If a person dies and he has not paid the zakat on his wealth, then zakat should be taken from one third of his wealth, not more than that, and this zakat will take precedence over his bequests, because zakat is like a debt upon him, therefore it will be given precedence over bequests. However, this ruling is when the deceased has made a bequest for the payment of zakat; if he did not make a bequest but his heirs pay it, then it is better, but it is not obligatory upon them.

Imam Malik, may Allah have mercy on him, said: In our view, the agreed-upon Sunnah is that zakat is not obligatory on the heir for the wealth that reaches him by way of inheritance—neither on debt, nor on goods, nor on a house, nor on a slave, nor on a female slave. However, if he sells any item from the inheritance and a year passes over its sale or the receipt of its price, then zakat will become obligatory.

Imam Malik, may Allah have mercy on him, said: In our view, the ruling is that zakat is not obligatory on the heir for the wealth that has reached him through inheritance until a year has passed over it.