What is the ruling on a person giving away everything they own in charity?

The four madhhabs (schools of thought) agreed upon the desirability of giving charity from wealth that exceeds one's sufficiency and the sufficiency of those whom one supports. If charity diminishes the provision of those whom one supports, then the giver is sinful for prioritizing a supererogatory act over an obligatory one. The majority of scholars hold that holding onto money that one needs is preferable to giving it all away in charity, unless the giver has a steady income or is confident in their ability to endure and live a life of abstinence. Some scholars deemed it desirable to give away all of one's wealth in charity for those who meet the conditions; this is the view of the Shafi'i school and the apparent meaning of Al-Muwaffaq's words in "Al-Mughni." The Malikis and Hanafis view the matter as permissible, not desirable. Evidence for this includes Allah's saying: (And do not make your hand shackled to your neck nor extend it completely, lest you sit blameworthy and regretful) [Quran 17:29], and the Prophet's (peace be upon him) statement to Ka'b ibn Malik: "Keep some of your wealth, for that is better for you." Also, the action of Abu Talhah (may Allah be pleased with him) when he gave in charity his most beloved property, and the Prophet (peace be upon him) did not specify a third for him, which indicates the permissibility of giving in charity more than a third in cases other than death sickness.