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Fdr

This query is : Resolved 
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(Querist)
31 May 2012
One of my client make a Fixed Deposit and Make one of his son as nominee.On death of my clients his nominee received the FDR Amount with Interest. Now nominee want to divide that amount between their brothers.

What legal documentation should be done to divide that amount?
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ARUN KUMAR MAITRA

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ARUN KUMAR MAITRA (Expert)
01 June 2012 Dear Luthra Ji,

Nominee holds the amount in trust of the beneficial owners,until the amount is distributed to them.In the absence of a will,the amount will be distributed amongst the legal heirs as per the Succession Certificate.

C.A. A.K.Maitra
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