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Author Topic: nominee of a PPF account in state bank of India  (Read 3796 times)

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Offline sinthia

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nominee of a PPF account in state bank of India
« on: June 13, 2012, 10:35:58 PM »
My dad has a PPF account with the State Bank of India. My mom is its

nominee. She and dad hold a joint savings account in the same branch,

against which the bank has our photographs, PAN card numbers and copies

of our voter identity cards. Are these enough to establish her as the

nominee so that she can claim everything when dad is no more? Or is there any

other legal procedure to be followed?

Offline advbose

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Re: nominee of a PPF account in state bank of India
« Reply #1 on: June 13, 2012, 10:37:00 PM »
The status of a nominee is that of a mere custodian, not an heir.

Though your wife can withdraw all deposits, she will have the legal duty of distributing your assets equally among all your legal heirs, if any, including herself. In case you have other heirs, maintain joint accounts with her or execute a will bequeathing all your assets to her.

rivenbark121

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Re: nominee of a PPF account in state bank of India
« Reply #2 on: January 21, 2013, 03:34:03 AM »
Hello
 
Though your wife can withdraw all deposits, she will have the legal duty of distributing your assets equally among all your legal heirs
and the more information about this details information?


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