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. We ask Allaah to exalt his mention as well as that of his family and all his companions.
It is permissible for whoever possesses wealth, to manage it as he pleases: to gift it or give it in charity and the like as long as he is entitled to run it. If he intends to put this into effect during his lifetime, he may do so. As regards after death, it is only one third that could be disposed off as in this case it takes the ruling of a will. However, this is not permissible if one intends, by doing so, to prevent the heirs from their rights and whoever does so, is sinful and he should be dealt with contrary to his intention. The fact that an heir is disobedient does not mean that one can prevent him from his right in inheritance otherwise he is wrong, but if he did not intend to prevent them from inheritance, he is not considered unjust. However, a Muslim should leave some of his wealth to his heirs so that they would suffice themselves and not ask others for sustenance, especially if the heir is a woman. It is confirmed that the Prophet said: "It is better to leave your heirs rich rather than to leave them dependant on other people." [Al-Bukhari and Muslim]
In our view, you should, dear brother, continue to advise your wife and your daughter and remind them of Allaah and His severe Punishment if they continue to neglect the prayer or do not observe other religious obligations. You should not despair; first seek the help of Allaah in doing so, and then the help of the pious and righteous people. If they repent, all perfect praise be to Allaah, otherwise it is more appropriate to divorce this woman as there is no good in keeping her as a wife under these conditions. If you divorce her, she has no right in the fostering of her children as long as she is in this state. It might be that it is because of her negligence in the matter of her religion that led her daughter to follow her path. As regards your daughter, we advise you to continue being kind to her and persist in advising her. If you think that cutting relations with her would deter her, then do so as it might be that Allaah will rectify her affairs. However, if you fear that cutting relations with her will make her more disobedient, then do not cut relations with her.
Allaah Knows best.