Legal Question in Banking Law in India

Any single legal document or "Will" which ensure smooth transfer of all kind of financial assets to the successor or nominee after the death of an individual. Financial asset include all bank a/c , shares ,,Mutual funds.,Bonds, Fixed deposit, Dmat accounts, Properties, PPF a/c, Post office investments etc. This is important because in case person forgot to mention nominee or nominee is also no more , then the financial asset should be transferred to the successor on basis of this legal document.

Please advice


Asked on 4/01/16, 3:42 am

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

01.04.2016

Dear Sir / Madam,

A Will is the document which ensures smooth transfer of all financial assets owned by the Testator (Maker) of the Will to the successor(s) or beneficiary(ies) named in the Will. A Will to be legally valid, need not be registered.

Regards,

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Answered on 4/01/16, 6:17 am


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