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 07th July, 2021 and the online edition of the same can be found here.
My father and mother passed away after they came down with covid. My father had made a registered Will in 2015. According to that document, my nephew has been named the claimant of all his liquid assets. However, after 2015, my father declared me as his nominee in almost all his bank accounts. Under these circumstances, who is the rightful claimant of my father’s liquid assets, my nephew or myself?
—Name withheld on requestContinue Reading The rights of a legal heir supersede the rights of a nominee