Is it permissible for one to dispose of a bequest during his lifetime?

A person has the right to dispose of their wealth during their lifetime through buying, selling, gifting, and charitable giving, so long as it does not reach the point of extravagance. They are permitted to make a will for a third of their wealth or less before their death, based on the Prophet's (peace be upon him) saying to Sa'd ibn Abi Waqqas: "A third, and a third is much. Indeed, for you to leave your heirs wealthy is better than for you to leave them dependent, begging from people." If one wishes to expedite the will during their lifetime, it is called a gift (hiba). It is sunnah (definition) for the will to be for needy relatives who are not heirs, based on his (peace be upon him) saying: "Indeed, Allah has given every rightful person their right, so there is no will for an heir."