can a shia Muslim father make "Family settlement" Deed

CAN A SHIA MUSLIM FATHER MAKE "FAMILY SETTLEMENT" DEED FOR HIS WIFE AND 3 CHILDREN, 2 OF WHOM ARE MINOR DAUGHTERS FOR HIS SELF ACQUIRED IMMOVABLE PROPERTIES & (2) MAKE A WILL AT THE SAME TIME FROM HIS SHARE OF 1/3 TO HIS PRESENT FAMILY WHICH CANNOT BE CHALLENGED LATER. HE WAS MARRIED BEFORE TO NRI LADY WHO TOOK KHULA (Divorce where wife refuses any meh-er/maintenance from Husband) CHILDREN FROM EARLIER MARRIAGE HAS TAKEN THEIR SHARE AND SOLD THE PROPERTY AND DISTRIBUTED AMONG THEMSELVES AND THE FATHER HAVE PERFORMED ALL HIS DUTIES WITH REGARD TO MARRIAGE, ETC OF THE DAUGHTERS WHO ARE COMES UNDER PIO (Persons of Indian Origin). HOW IS THE BEST AND UNDISPUTED WAY TO THIS SITUATION.