Firstly: Raising the Hands During the Opening Allahu Akbar
Raising the hands during the opening Allahu Akbar is sunnah, and this is a matter of agreement among the four schools of jurisprudence.
Secondly: Raising the Hands When Bowing and Rising from It
Raising the hands when bowing and rising from it is sunnah. This is the position of the Shafi`is, Hanbalis, and the position of Malik according to one of two narrations from him. It is the position of the majority of the scholars among the Companions, Followers, and those after them. It is also the position of choice according to Ibn Baz and Ibn `Uthaymin.
Thirdly: Raising the Hands When Rising from the First Tashahhud
It is praiseworthy to raise one’s hands when rising from the first tashahhud. This is a position among the Shafi`is which al-Nawawi selected. It is also one narration from Ahmad that Ibn Taymiyyah, Ibn Muflih, and al-Mirdawi selected. It is also the choice of some Hadith experts, and was selected by Ibn Baz and Ibn `Uthaymin.
Fourthly: How to Raise the Hands
It is sunnah to raise the hands to the shoulders or the ears. This is the position of the Shafi`is, Hanbalis. Some Hadith experts also chose this position, as did Ibn `Abd al-Barr. It is the position of choice according to Ibn Baz and Ibn `Uthaymin.
Fifthly: Where to Place the Hands When Standing
The one offering prayer is free to choose to place the hands – while standing – on the chest  It is the position of some of the Salaf and the chosen position according to Ibn Baz, Ibn `Uthaymin, and al-Albani. , above the navel and below the chest  This is the position of the Shafi`i school, Dawud al-Dhahiri, and some of the Salaf. , or below the navel  This is the position of the Hanafi school and some of the Salaf. . Choice in this matter is broad, and this is one narration from Imam Ahmad. Al-Awza`i indicated that one has free choice in the matter. Al-Tirmidhi attributed this position to scholars from among the Companions, Followers, and those after them. Ibn al-Mundhir chose this opinion.
Sixthly: Placing the Right Hand Over the Left When Standing
It is sunnah to place the right hand over the left during all units of prayer. This is the position of the majority: the Hanafis, Shafi`is, Hanbalis, and one position according to Malikis. It is also the position of the majority of jurists.