The wife gets one eighth and the the remaining 7/8 must be divided into four equal parts, one part for every daughter and two parts is for the son. This is from the net wealth after paying back all dues on the deceased including the One third.
It is the right of every person to keep one third from all his net wealth after his death to be spent on any aim or person that he wants. This one third can be spent on charity, giving to family or friends or any other lawful purpose.
You can keep a part from that Third to your unmarried daughter which will added on her share from your inheritance.
1. If the deceased left only one son and one daughter, and no wife, the daughter will inherit one third and the son wll inherit two thirds.
2. If the deceased left two sons and three daughters, and no wife, the wealth left must be divided in to seven equal parts, one part ( 1/7) for every daughter and two parts (2/7) for every son.
The tragedy of Lady Fatimah (SA) and her sufferings from Abu Bakr is mentioned in
hundreds of Sunni books and thousands of Shia books. I will mention
only the book of Bukhari being the most important book of Hadeeth among
our Sunni brothers. In the book of Bukhari, Hadeeth number 4240, it is
mentioned that Fatimah asked Abu Bakr to give her her right from what
the Holy Prophet (SAWA) left. Abu Bakr refused to give anything of
that to Fatimah (SA) so she became angry with Abu Bakr and boycotted
him and did not talk to him till she died. She remained alive after
her father for 6 months and she never spoke to Abu Bakr. This is in
the book of Bukhari itself.
It is important to know that Bukhari himself narrated a Hadeeth from
the Holy Prophet (SAWA) that Fatimah (SA) is part of me, anyone who
makes her angry makes me angry – this is in Bukhari, volume 4, page
210 in the Arabic edition.
The persons who have right in inheritance in Islam are in degrees; the first degree is for the parents of the deceased and the sons and daughters of the deceased. If any son or daughter are alive when the deceased passed away, no inheritance for grand sons or grand daughters.
In your question, the inheritance goes to the living sons and daughters, and no right of inheritance for the grandchildren. Grandchildren would have share in the inheritance if the deceased did not leave any living son or daughter.
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