g.bharath (retired) 06 March 2016
k.chandrasekharan (advocate) 18 March 2016
The answer would depend upon the nature of the immovable properties and the fact whether the querist leaves any will, bequeathing the properties to anyone.
Assuming that no will is executed:
Movable assets: Nominee is only a trustee to receive payment from banks. Ownership of money will depend upon class I heirs.
Immovable assets: Ancestral: Notional partition by law between the father and son, each getting half share. Out of one half of father there will be sub-division equally between the son and the second wife. Effectively, the second wife will receive 1/4 share.
Self-earned: equal share for son and second wife.
If any child is born of the second marriage, then the sharing formula would include the new-born child also, in all the three cases.