According to Islamic Rule of distribution, A muslim is allowed to bequeath 1/3 of his estate to anyone they chooses via a Wasiat (wasiyyah). The Balance 2/3 is to be administered under Faraid. 

Hibah on the other hand allow a Muslim to pass on 100% of their asset to someone. This asset will be excluded from his/her estate during Faraid. Hibah refers to a contract that entails granting ownership (a gift) of one's property. The gift is made during the lifetime of the giver without any reprisal. Hibah is an ownership given on the basis of affection and a help given in Islam. It is given during the life of the giver to the chosen receiver.