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Divorce
3 years ago
I have mutual fund investment in my name. Nominee is my mother. Can ny wife get a share of it after divorce?
A.As you have said that you have mutual fund investment in your name & mother is just a Nominee. And as per rules Nominee is the beneficiary of the amount only after the death of the policy/ investment Holder. So by default wife get a share of it after divorce if the court directs so. Better way dispose off the mutual fund investment or Change mutual fund investment in your Mothers Name & you become the Nominee OR keep all investments of yours in JOINT NAME with your mother. It is difficult for your wife to get such a investment even after Divorce.
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ADV. ANISH PALKAR (High Court)
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ADV. ANISH PALKAR (High Court)
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A.Divorce terms will prevail over such amount. You must exclude her from all other claims.
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