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Q.Cash and Fixed Deposit
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Q. Cash and Fixed Deposit

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Anonymous

posted 2 months ago

Dear Sir

My dad passed away March 2018. He left a Will in which he stated that he wished to distribute his cash assets (Fixed Deposits FD) after 12 months of his death in percentage figures of the total cash assets between his 4 children (2 boys and 2 girls).

The total valuation of his cash assets (FDs) market values or FD details are not listed in the Will but only the percentage of distribution is stated in Will. For example, the distribution as per Will is as follows ( 40% for 1 son, 30% for 1 son, 15% for 1 daughter and 15% for other daughter)

My mother is alive and is a joint holder (either or survivor) on those FDs with nominees listed as my brother and myself on those Fixed deposits. My mother has possession of the original Will. I and my brother have photocopies of my Dad's Will. My mother was never employed and did not earn any of that money in the FDs.

However, she has liquidated all the those FDs in September 2018 (well before the 12 month wait period listed in the Will) and has distributed the cash money among my 2 sisters and herself in 33.3% between themselves. I and my brother has not received any payout or money from this distribution.

This is money that was supposed to be distributed as per my Dad's will but is now being squandered between mother and two sisters. Is this even legal to do such distribution against Will just because she is joint holder on those FDs? Can this be taken up as legal preceding to freeze that cash assets distributed among mother and my sisters? I am from Mumbai and need help from a lawyer who can guide us. Please help.

Thank you
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A. You can file a suit and claim your share as per the terms of Will.

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Sunny Jaiswal

Experience: 1 Year(s)

Responded 2 months ago

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A. Sir you can contact any local lawyer of Mumbai. You can also consult lawyers from vidhikarya.
Thanks.

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Shreyash Mohta

Experience: 1 Year(s)

Responded 2 months ago

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A. you and your brother have an absolute right in the said FDs and i advise you immediately make your claim to get them by taking help of any prudent lawyer,
call/mail me for further help

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Suneel Moudgil

Experience: 15 Year(s)

Responded 2 months ago

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A. If there is a valid will then you can take appropriately legal action against the act of distributing the money by your mother.
Since the will has not been honoured and followed so move the court for probate and also for interim injunction.
Yes you should touch base with a local lawyer as you will have to move the court.

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Abhimanyu Shandilya

Experience: 14 Year(s)

Responded 2 months ago

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A. Dear Sir,
Your mother and your sisters violated the terms of Will. You can file a suit and claim your share as per the terms of Will. Your mother ought to have acted as per the terms of Will and bankers also violated their fiduciary duty. You have a cause of action to get the amounts by filing necessary civil suit.

For full procedure contact me on mobile through Vidhikarya.
Rate me Five Star *
Please visit the following link.

https://vidhikarya.com/LawyerRating/9506c43f5d0b2d266a07

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A. If all brother and sister are ready to it then exicute it

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Rameshwar Dadhe

Experience: 2 Year(s)

Responded 2 months ago

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