Asalam o alaikum mufti sahab I want to know that is that ok to open an account and add my yearly zakat in it to help my cousin's children who need that money after 3 years w when they go to school because my cousin ix dead and he left 2 children they are in Pakistan and after 2 years when They go to school then their mother probably need money so is it ok in Islam that we add our zaka in bank account or we have to pay it to some one yearly and the other thing my sister in law gave me17000$ she owe sui do I have to pay zaka on that 17000$ our not.
You should pay your Zakah every year as it becomes due. By holding your Zakah money back, you will be earning the sin of causing delay in discharging an obligatory duty.
However, if you did hold back your Zakah for a few years but then you paid it in full then it will be considered discharged.
And Allah knows best.
Mufti Ikram ul Haq
Fatwa Center of America