2 days ago

How Families Can Locate Investments After an Investor’s Death

Have investments across mutual funds, stocks and FDs? Here’s how to ensure your family can find them after your death · livemint.com

People often keep their money in many different places.

If they die unexpectedly, their family may not know where all the money is held.

A single, updated list can help the family find bank accounts, shares, mutual funds, insurance and fixed deposits.

The list should include account numbers, platforms and nominee details.

It should also include information such as the person’s PAN, Aadhaar, phone number and email address.

The list must be stored safely but made accessible to a trusted family member.

Naming a nominee alone may not decide who finally receives the assets.

A registered will should identify the intended beneficiary.

If investments are never found, they may remain in the person’s name and later become unclaimed under applicable rules.

Key facts

Recommended record: A consolidated asset inventory, preferably maintained in an Excel sheet.
Assets to include: Bank accounts, demat accounts, mutual funds, shares, bonds, insurance policies, fixed deposits and other investments.
Key details: Institutions, platforms, account or folio numbers and nominee information.
Family access: The inventory should be securely accessible to a trusted family member.
Identification details: PAN, Aadhaar, registered mobile number and investment-linked email address.
Nominee and will: The article says a nominee is a custodian and recommends matching the nominee with the beneficiary named in a registered will.
Eligibility for a will: Any person above 18 can make a will, according to Minisha Rupani.
Undiscovered assets: Investments may remain in the investor’s name and eventually move to the Investor Education and Protection Fund or another prescribed mechanism, depending on the asset and inactivity period.

livemint.com · 2 days ago