LCI Learning
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Subhomoy Das (Retail Manager)     23 June 2011

Money

My mother having couple of Fixed deposits at Bank  and Monthly income schemes at Post Office. She does have a Safe deposit locker in a Bank. Now all these FDs and MIS she is having she have Nominated me. even she have nominated me in her bank Locker also. I have an elder brother who stays separate and doesnt keep any contacts with my mother for the last 2 yrs. We dont know whether he is alive or dead as on date and he doesnt know wheteher we are alive or dead as there in NO communication with him by any means. After his marriage he and his wife behaved inhumanly with my parents . after that they are separately.

My father expired recently. Now in future in the absence of my mother (after her expiry) does the bank and the Post office will hand over the money as i have been nominated by my mother or the Bank and post offfice will return thre money and ornaments to both brothers on equal sharing basis. Can my brother claim the money even if have not been nominated by mother.

Thanks



Learning

 3 Replies

Tajobsindia (Senior Partner )     23 June 2011

@ Author

1.
Get a Will prepared and executed with witness during her lifetime as per her wish to dispose the savings to any and all or either family members.

2. Otherwise post her demise Bank / Post Office asks for succession certificate and or if there is a wind of it known to your exiled brother then he will ask for his share. 

Read one of my older post on wills and nominations.

 

 

Subhomoy Das (Retail Manager)     23 June 2011

Then what purpose the Nomination serve to me  made by my mother  on her FDs and MIS . does the Bank and Post Office follow the rules applicabkle to nominee or they will ask me to bring court order once my mother paeed away. Pls advice.

Tajobsindia (Senior Partner )     23 June 2011

Gurudev !

Read one of my older post on "wills and nominations". OR simply in search box above (right hand corner top of this page) type wills and nomination there pops the required details in much larger wordings then as asked for better clarity, let me suggest you to do some exercise intead of all spoon feedings sir when directions are being given how to do it !. I mean it is OK to ask but some related search also needs to be done when pointer is given don't you think ?


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register