Legal advice for a senior citizen.
5 years ago
Dear Law adviser Sirs,
My friend Sudhama's age is 68 years. He has blessed with one son only. The son is married & having a child but not sound in finance.
Sudhama, In his service period has earned & fixed some money in Bank FD & Mutual funds only. In all the papers he mentioned his wife's name as his NOMINEE.
As Sudhama reached in the 4th. part of age, he strongly determined to separate himself permanently from the family attachment & go away to any Ashram for BANAPRASTHA & SANYSHA as per Hindu religion system.
But he want, his wife & Son should never face crisis for Money. But as the whole fund is nominated in his wife's name & the investor Sudhama will be absconded, how the family will handle the money unless a Death Certificate of Sudhama is produced ?.
Please help us, if any legal system is there in law to handle the money of the investor, if the investor is absconded from home but not dead.
In this situation Sudhama also agreed to prepare an affidavit or a WILL to handover all his invested funds in the name of his SON or WIFE. but is it legally acceptable in Banks or Fund Houses?
We pray to Please give us some legal advice.
Deepak Yashwantrao Bade
Responded 5 years ago
Ambrose Leo
Responded 5 years ago
Ajit Kumar Sinha
Responded 5 years ago