AskLegal 24 February 2023
My Father passed away recently without a will. The property is getting divided 50-50 between 2 children. No issues there?
But what happens to his Fixed Deposits? On most of the FDs, the nominee is child (A) as child (A) use to live nearby in the same city and it was easier to keep him as the nominee. So will all the FDs go to child (A) only or will they get divided equally between both Child (A) and child (B)?
Mittal ji 24 February 2023
Shashi Dhara 24 February 2023
Both get equal share ,nominee is only trustee and one of lrs ,he cannot claim entire amount . approach court and take stay not to release the amount.
T. Kalaiselvan, Advocate (Advocate) 24 February 2023
The nominee in a FD is a trustee and cannot take away the entire money just because of the nomination.
The nominee has to distribute the FD amount to all the legal heirs equally.
Therefore you have an equal right in the FD amount also.
Advocate Bhartesh goyal (advocate) 24 February 2023
I concur the opinion of above experts shri T.Kalaiselvan and shri Shasi Dhara.
AskLegal 24 February 2023
Thank you for the information you have provided. It is helpful!!
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