Legal Question in Wills and Trusts in India

Re: Will or Nomination - what dominates ?

Sir,

Since u have your fathers will in your favour, you bequeath all the property he has in your favour. In the will if such joint accounts have are mentioned and such right and power is given to you, then u have just got to approach the concerned bank authorities to substitue your name instead of your father, and u shall be equally entitled to hold and opereate such accounds as if yoru father would have had opereated.

Furthermore if no such accounts are mentioned in it, then you shall be entitled it as a natural successor and legal representative of your father, provided there are no other Legal representatives of your father ie. yoru sister, your mother etc. who could claim for such accounts.

Re: Will or Nomination - what dominates ?

You have the same right as original joint holder - nothing more and nothing less. But you have to take letter of Administration or Heirship Cerificate or Probate as may be applicable in yor specific case, to enable you to enforce your rights.

Re: Will or Nomination - what dominates ?

First you have to ascertain whether the WILL contains any aspect with regard to the fixed deposits, if it gives full right then you have right to have the Fixed Deposits in your name and encash only your share from the joint account alongwith your uncle.

If the WILL is silent on the fixed deposit and nothing has been stated in the will as who has to receive the fixed then all other brother and sister will have equal rights. You have to find out from other sources whether the money standing in the fixed certificates are only of your father, as a precautionary your father has maded fixed deposit along with your uncle.

Any investment made in shares also will have the same consequence of finding out if there is anything in the WILL.

Your cannot supersede the will, all that you can do is, all the legal heirs can sit and discuss and share the amount or the certificates.

Go to a legal person and give all the documents to him (Xerox) he will guide you.

B.Balasubramanya.

Advocate.

Re: Will or Nomination - what dominates ?

Dear AK,

The law pertaining to the rights of joint account holders is very clear. The joint account holders are required to give a clear-cut mandate in favour of their legal heirs for operating their respective accounts in case of their death. In absence of such instructions on the death of one of the joint account holders, the survivor is entitled to the whole amount both under the law of devolution applicable to joint owners and by the custom of bankers.

Therefore check whether any mandate was given by your father in your favour. In absence of that your uncle only will be able to operate that account.

Thanking you,

Yours truly,

Dubey & Partners

Disclaimer:

Actual resolution of legal issues depends upon many factors, including variations of fact and applicable laws. This information is not intended to provide legal advice on specific subjects, but rather to provide general insight of legalities involved upon the query raised. The reader should always consult with legal counsel before taking action on matters covered by herein