Bank accounts money payable on death when no nominee and no legal heir

You can approach bank manager. He will guide you. 

you can establish a trust in your lifetime, or just leave a will deed expressing your will. If you want to donate to any already establsihed trust then make a will deed in favour of that trust.

1. While still being alive, the person may execute a Registered WILL, bequeating his properties to ANYBODY he wishes to.  AFTER this a copy of the registered will, may be given to the Bank Manager, for his records with specific instructions, as to not to honor any claims by anybody under any circumstances.

Keep Smiling .... Hemant Agarwal
VISIT: www.chshelpforum.com

Dear Mr Hemant,  Thanks for yoru reply

1. With whom the WILL can be registered?

2. You mentioned  that specific instructions be given to the Bank Manager, not to honor any claims by anybody under any circumstances. In what best way the person, when alive, can give these instructions so as to ensure that there is no lapse or confusion after his death.
 

Originally posted by : Dr. Shekhar
	With whom the WILL can be registered? In what best way the person, when alive, can give these instructions so as to ensure that there is no lapse or confusion after his death.

1. The WILL has to be registered before the district /taluka level Registrar of Sub-Assurances.  You can use professional services of a local registration agent, loitering outside such offices.

2. While writing a WILL, the writer has to strategically record the name of an "executor" of the WILL (preferably a neutral non-beneficiary), who actually & legally overseas the execution of the clauses of the will.

3. The account /property owner, may issue a Legal Notice /request to the Bank (or all relevant persons) alongwith a copy of the registered will, for Bank records with specific instructions, as to not to honor any claims by anybody under any circumstances.

4. The said Executor (a confederate person), shall follow up with the Bank and ensure compliance of your instructions.  There are several other parameters, which can be exercised, with guidance from a local experienced lawyer specialising in property & family matters.

Keep Smiling .... Hemant Agarwal
VISIT: www.chshelpforum.com