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Ajay Mishra   05 February 2020

Change of Nominee

My mother is suffering from Alzheimer and not mentally fit.Its been decided between me and my elder brother verbally to take care of her yearly by keeping her custody.When she were in his custody,he nominated himself solely as nominee for her pension account.Now since she is with my custody from last 6 months,I were asking him portion of pension amount for her medical treatment reply to which he always say you can't get amount unless I will physically present in bank since I am nominee and I don't have time to come with you.

Is there any way to change nominee to include myself also ?

Can Nominee withdraw money for mentally retired person?


Learning

 1 Replies

Akshay (Advocate)     05 February 2020

Hi

Thank you for asking this question

Answer to your first  query is "Yes"

 She can add you as a nominee(in addition to your brother) in the bank account and both of you can be joint nominees.

For the second query of yours

Answer-One thing is that the nominee gets charge of the money only if the account holder dies.According to me its NO.

Hope this will help you

Best regards

Akshay Gupta

 


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