Is Zakat Applicable to the Money I Plan to Gift in the Future?

Yes, Zakat applies to money you plan to gift in the future, as long as you still own it when it becomes due. 

Here’s a breakdown:

• Responsibility while you own the money: As long as you still possess and control the money, it is considered part of your wealth for Zakat purposes.
• If the amount reaches the Nisab of Zakat and you have possessed it for a full lunar year, you are obligated to pay Zakat on it.
• A gift before a full year: If you gift the money before it completes a full year in your possession, you are not responsible for paying Zakat on that specific amount. The Zakat would not be due on the gifted money because it is no longer part of your wealth.
• Control and intention: Zakat is based on both your control over the wealth and your intention. If you plan to gift the money but still possess it during the Zakat year, ensure you fulfill your Zakat obligations before transferring it.
• Recipient's responsibility: Once you gift the money, the recipient assumes responsibility for Zakat if the gifted amount meets the necessary conditions.

Hence, you are obligated to pay Zakat on the wealth you own and control. After gifting it, the recipient takes on the responsibility for Zakat on that money if applicable.

And Allah knows best!