Regarding A Will
Hi . My mother has nominated me on all her fixed deposits does she still need to make a will as she wants to give the entire money to me and not her other children.
Free Legal Advice - family dispute
Posted by: Sharon
Posted on: 2018-08-12
Hi sharon. according to section 45ZA of the banking regulations act of 1949 it has been made clear in the sub clause 2 of the section that despite of any arrangement made in the form of testamentary or otherwise where a nomination is made in the prescribed format, the nominee shall o death of the depositor become entitled to all the rights of the sole depositor and such is to the exclusion of all others. I hope this helps you.
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