Nominee versus Legal Heir versus Will: Who Gets Your Property, Bank Money & Investments?

You have a nominee.

But does that automatically make them the owner of your money, investments or property? Not always. This is one of the most misunderstood aspects of financial and estate planning in India. We all nominate someone, spouse, child, parent, when we open a bank account, buy mutual funds, take insurance, or open a demat account.

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We assume: “Nominee = owner after me.” That’s not always true. But nomination and inheritance are not necessarily the same thing. A nominee is mainly the person who can receive or claim the asset after your death.