Can one make a property Waqf and at the same time derive the benefit of the property whilst one is alive, and thereafter the benefits will be for one'

Answer

It is permissible to make Waqf of one's property during one's lifetime and retain the use of the property for life. However, one may not say that the property will be Waqf after one's death. The Waqf has to be finalized during one's lifetime. The Waqf property may be made Waqf for the use of children, grandchildren, etc., and when there no longer remains any of one's progeny, the beneficiaries will then be the Fuqara and Masaakeen.