Question on Nominee for Demat accounts vs Will

Dear Sir,
Normally, all the amounts due will be transferred in the name of nominee and there is no necessity of any Will. If anything happens you may go to High Court and accordingly get release the amount in your favour.

Dear Client,
Nomination is only a clause that allows the nominee to claim assets/properties as ‘custodians’ in the event of the owner's death. The nominee is the trustee of the funds or properties of the deceased owner and is legally bound to transfer the properties to the legal heirs/beneficiaries of the deceased owner once they stake their claim. In case of no will, the succession laws decide the claim of legal heirs to the assets or deposits left by the deceased owner. In case of intestate succession, all the surviving legal heirs of the deceased owner are entitled to an equal share in the property left by the owner. The property of a male Hindu dying intestate, i.e., without any will, shall devolve according to the provisions of Section 8 of the Hindu Succession Act, 1956, (a) firstly, upon the heirs, being the relatives specified in class-I of the Schedule. The property of an intestate is divided among the heirs in class I of the Schedule as per rules prescribed under Section 10 of the Act that include the intestate’s widow, surviving sons and daughters, and the mother. After the amendment of the Hindu Succession Act in 2005, daughters, regardless of their marital status, were given the right to claim their share both in movable and immovable assets/property(if left intestate) of their parents. Hope the matter stands clarified.