Tranfer of money from deceased bank account to legally adopted kid account

Dear Client,
Adoption legally transfers the rights and responsibilities of a natural child to the adoptive parents, including inheritance rights. Thus, an adopted child is considered a legal heir and has the same rights of inheritance as a natural child to inherit from the deceased person. As per guidelines made in press release dated 09/06/2005 by the regulatory authority, RBI, for accounts which do not have ‘Either or Survivor’ clause nor have a nomination, the Reserve Bank has asked banks to fix a minimum threshold limit up to which they could release the balance amount lying in the deceased account holders’ account after obtaining a letter of indemnity and without insisting upon production of any other documents. So, in the absence of a nominee, an adopted child can claim the deceased's bank account balance as a legal heir by providing proof of adoption and other required documents to the bank. If the bank is satisfied with the documentation and verification, they will release the funds to the adopted child. If there are other legal heirs, the bank may require a succession certificate or other legal documentation to ensure a fair distribution of the money lying in the deceased account.