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Abhishek Jain (SSE)     03 January 2015

Daughters claim on money in father's acount

My maternal grandfather has 4 daughters and no son. He has no property. He has accumulated his savings in bank accounts. The bank accounts do not have any nominee.

My grandmother has passed away and grandfather is alone now. He has made a will in favor of the 4 daughters.


My question is: If something happens to my grandfather, will the amount in the banks be claimed by the government (this is being claimed by some people)? Or will the daughters have a right to this money and will be able to receive it according to the wishes of my grand father?


We are Hindu's.



Learning

 3 Replies

Rama chary Rachakonda (Secunderabad/Telangana state Highcourt practice watsapp no.9989324294 )     03 January 2015

As per the WILL the amount can be allocated. The death certificate to be shown to the banking officials. They will tell the procedure to get the amount. 

Kumar Doab (FIN)     03 January 2015

If bank a/c are also included in the WILL then the proceeds shall be given to beneficiary as per WILL..... Nominee is just a trustee/hand to receive the funds on behalf of legal heirs/successors and is not the owner,and has to distribute to legal heirs. Advice the grandfather to register the WILL and also to insert nominations in all a/c even if as per his wishes in WILL..

Abhishek Jain (SSE)     04 January 2015

Thanks for the reply.

 

Can you also clarify under which circumstances does the government take over the bank accounts?


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