The Private Client team at Cyril Amarchand Mangaldas shares their comments and opinions in an article in the following Q&A which was published by the Mint Newspaper on 18th January, 2022 and the online edition of the same can be found here.
My father-in-law died of covid on 6 September 2020 and my mother-in-law died on 13 December 2020. My wife is their only daughter. I need some clarity on the following:
a. My father-in-law had some HUF (Hindu Undivided Family) bank accounts and mutual funds. How do my wife or I run the accounts or withdraw the money.
b. My father-in-law has some shares and bank accounts in which his brother or sister-in-law are the nominees. How do I claim those from them?
– Kapil R. Tulsan