I need to make sure that I have a correct Islamic will.
I have a wife and only daughters and my will states that in the event of my death or of my wife then all of our belongings will transfer to one of us and after us will be split equally amongst the daughters.

Both our parents have waived their rights to any inheritance.

Please kindly advise if this will is possible.

From what you described it’s only valid islamically if the daughters consent now to all inheritance being revived by you or your wife if one of you dies. They should do this by writing or verbally if they’re mature