Claim after death

Save Share

This query is : Resolved

Quick Summary

This discussion clarifies who inherits shares in a demat account when the account holder makes a nomination change shortly before their death. Even though the nomination change was processed and confirmed after the account holder's passing, the most recent nomination made while they were alive is considered valid. Therefore, the son, who was nominated last, will be the beneficiary of the shares.

PRIYA

PRIYA (Querist)
Follow

02 October 2024 The account holder of demat account had nominated his wife as 100% nominee in his account on 20th February 2024. Six months later, on 24th August 2024 he changed this nomination online through e-sign and made his son as 100 % nominee. Unfortunately, the account holder died on next day, 25th August 2024. The change in nominee was processed and confirmation mail was received on 28th August 2024, three days after his death.
Who will be the nominee in this case to claim his shares in demat account?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
Follow

02 October 2024 Son.

PRIYA

PRIYA (Querist)
Follow

02 October 2024 Does it make a difference as the change in nomination was processed after his death?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
Follow

02 October 2024 No. The owner of the account had applied it with e-sign on 24th, before his death. Bank had taken its own time, but will not effect the change.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
Follow

11 October 2024 Good luck ....

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!