A few documents that help to claim financial assets of the deceased

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A few documents that help to claim financial assets of the deceased
So often have we heard cases where it's taken years to resolve claims with regards to financial assets that have sapped the energies of a rightful legal heir. The mess arises because the deceased has not nominated or created a WILL. Even if he has created the latter, he has not registered the same. In any case, let's see some of the most important documents that investors must have to ensure that they leave their legal heir with less worries, when claiming rightful legal dues.

Death certificate

This is a must have certificate without which there's no question of claiming any financial asset of the deceased. As the name suggests the death certificate will show the death of an individual and is a must especially when claiming assets like bank deposits, PPF and insurance.

As soon as the death occurs the same must be registered within 21 days. If you have delayed getting the death certificate beyond this time frame, than your process is likely to get lengthier and more tedious.


The WILL is another document that maybe necessary, particularly where there is no nomination of the financial asset. Many investors make a WILL, but do not register the same. This gives scope at a later stage to interpretation by heirs that the WILL may have been changed. It's important to register the WILL without which individuals may cause problems for the legal heir at a later stage. Now, if the same is not registered a probate of a WILL would be required, which would remain a tedious process.

According to Section 2 of the Indian Succession Act, 1925, Probate means "the copy of a Will certified under the seal of a court of competent jurisdiction with a grant of administration of the estate of the testator."

Claim Form

Another important document that is required is the Claim Form. If there is a nomination for the asset than the copy of the death certificate and the Claim Form might do. However, if there is no nomination than the WILL, would also need to be attached. Different banks may require different documents. For example, in the case of a Fixed Deposit, you may have to hand over the FD receipt along with the Claim Form.

Why nomination becomes crucial?

Because of the hassles mentioned above, a nomination becomes extremely crucial. It's not only important to nominate, but to also keep a track of the same. Some individuals nominate, but do not bother to change the nomination in case of death. Also, do make the effort of changing the nomination, if you really intend to do so.
Nomination will ensure that you do not hassle the legal heir with a WILL, probabtion of Will etc.


As mentioned throughout the article, it is a first to begin with nomination of every financial or any other asset class. Do make a WILL and ensure that you register the WILL. This will avoid probation at a later stage.


Read more about: tax, financial assets, claim form
Story first published: Tuesday, September 2, 2014, 7:29 [IST]
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