Legal Question in Wills and Trusts in India
When my father expired he left a unregistered will, wherein, he left everything to my mother. He has shares worth more than Rs 1,00,000 in his demat A/c, but there was no nomination in his A/c. Now HDFC depository wants us to get the Will Probated or Succession Certificate issued. Is it necessary by law to go through these lengthy legal procedures, to get the shares transferred in my mother's name, when my father left everything to my mother and there is no dispute regarding that in my family ? If necessary, are these the only 2 procedures to get the shares transferred ? Out of all the options which one is an easier option and also what would be the taxes applicable in each option ?
2 Answers from Attorneys
you have to go by the bank where your father's demat account lies,you may also request the bank to take into cionsideration of the following things.
1.If your father is a govt. employee the the proof of his pension account,in which your mother's name would have to be definitely mentioned.
2.An affidavit notarised along with the proofs like ration card/voter card,etc.
if the bank requires probate or succession certificate you have no option.
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