Allāh instructs you concerning your children [i.e., their portions of inheritance]: for the male, what is equal to the share of two females. But if there are [only] daughters, two or more, for them is two thirds of one's estate.1 And if there is only one, for her is half. And for one's parents, to each one of them is a sixth of his estate if he left children. But if he had no children and the parents [alone] inherit from him, then for his mother is one third. And if he had brothers [and/or sisters], for his mother is a sixth,2 after any bequest he [may have] made or debt.3 Your parents or your children - you know not which of them are nearest to you in benefit. [These shares are] an obligation [imposed] by Allāh. Indeed, Allāh is ever Knowing and Wise.
Translation: Saheeh International (English)
1 Literally, "that which he left."
2 Although the siblings themselves do not inherit in this case.
3 Based upon prophetic ḥadīths, scholars have ruled that debt takes precedent over a bequest, that a bequest may not include any who inherit by law, and that the total bequest may not be more than one third of one's estate. After the fulfillment of debts and bequests (if any), the remainder of the estate is to be divided according to the ordinances in this sūrah.
Allah instructs you in the matter of the inheritance of children that the inheritance should be divided between them. A son gets a share equal to the share of two daughters. If the person who died left daughters without a son, two daughters or more get two thirds of what is left. If there is just one daughter, she gets a half of what is left. For each of the parents of the person who has died, they get a sixth of what is left, if he has children. If he does not have children or any heir except for his parents, then the mother gets a third, and the father gets the rest. If the person who has died has two or more siblings, whether brothers, sisters, half-brothers, or half-sisters, then his mother gets a sixth as a share, and the father gets the rest – so the brothers and sisters are not given anything. This division of the inheritance is after the bequests of the will have been deducted, with the condition that the bequests in the will cannot be more than a third of the total wealth and debts have been repaid from the wealth. Allah has made the division of inheritance like this because you do not know whether your parents or your children are closer to you in benefit in this world and the next. For instance, a person may think well of someone and leave everything to them, or think badly of someone and not leave them anything, and they may be wrong in their opinion in both cases. Allah knows the reality of things and nothing is hidden from Him. For this reason, the division of inheritance is as He made clear, and He made it obligatory for His servants. Allah knows everything, and nothing is hidden from Him of what is good for His servants – He is Wise in His sacred law and administration.