Zakat on the money of wife and children in case it reached Nisaab

Slamalaykoum, I live in Belgium with my wife and 2 childeren concerning Zakat Elmal what would be the amount in EURO for elnesaab? and is the 2.5% should be applied seprately on the money of my wife and 2 childeren in other words shall i look to the money of my wife sepratley then see if it exceeds elnesaab if yes then we pay from it 2.5% , and look for the money of my daughter sepratley then see if it exceeds elnesaab if yes then i pay from it 2.5% also and do the same for my son's money, bearing in mind that i save the money for my childeren or shall i add all the money togather for myself and my wife and my childeren and see if it exceeds elnesaab and pay from it 2.5%? Wa gazakoum allah khayran Mostafa

All perfect praise be to Allaah, The Lord of the Worlds. I testify that there is none worthy of worship except Allaah, and that Muhammad is His slave and Messenger.

 

Nisaab (i.e. the minimum amount liable for Zakat) of cash money, be it Euro or Dollar or other currency, is the equivalent of 85 grams of gold. Therefore, whoever possesses the equivalent of this amount and a whole lunar year elapses on it is obliged to pay Zakat on it, which is 2.5%.

Every person who possesses Nisaab and a whole lunar year elapses on it is obliged to pay Zakat from his own money. For instance, if the money of the wife reaches Nisaab and a whole lunar year elapses on it, then Zakat should be paid on it immediately and it is not permissible to delay it until a whole lunar year elapses on the money of her husband or son. Every person should pay Zakat separately if it reaches Nisaab.

It should be noted that it is the wife who should undertake the payment of her own money or appoint you to do that for her, and the same thing applies to your pubescent children. As regards the children who are not yet pubescent, you should pay Zakat on their behalf from their own money.

Every person who owns Nisaab and a whole lunar year elapses on it, is obliged to pay Zakat but one is not obliged to pay Zakat if he does not own Nisaab even if when it is added to the money of others it reaches or exceeds Nisaab.

For more benefit, please refer to Fataawa 81355, 82522, 86321 and 87001.

To conclude, we thank you for being keen on paying Zakat and asking about this, and we ask Allaah to make you steadfast on His Guidance and bless your money and family.   

Allaah Knows best.