----- Forwarded message ----- From: N Sekar <[email protected]>To: [email protected] <[email protected]>Sent: Monday, 14 February, 2022, 01:40:37 pm ISTSubject: Re: [iyer123] moneycontrol.com NEWS: LIC IPO | LIC sits on over Rs 21,000 crore unclaimed funds The only solution is to have Will, a registered one. Or, split the deposit into 2 or 3 or more and have different nominees. Pl copy these queries to the group as it may benefit some. I am the benefciary at times, as I was not aware of some of the issues people raise, like this one. It is part of continuing education and we learn from each other. N Sekar
Sent from Yahoo Mail on Android On Mon, Feb 14, 2022 at 12:03 PM, [email protected]<[email protected]> wrote: Dear Mr Sekar, If the nominee is a legal heir then also he may decline to share with others. He may give a meagre amount. Will also has many problems. On Monday, 14 February, 2022, 01:11:59 pm IST, 'N Sekar' via iyer123 <[email protected]> wrote: Dear Gopa sir I understand the points you have raised. Please note the Nominee is not the legal heir, only those specified in the Will are. Banks give the proceeds to the nominees because that's what the account holder has mandated them to do. If the legal heirs object, then the only course for them is to go to a court of Law. It is for the account holder to ensure his nominee is also the legal heir / heirs. Otherwise he is undertaking a risk. I have heard stories of how the person has not changed the nominee/ beneficiary, even after the latter is no more; either indifference or laziness or a false sense of security or any other. Then the heirs run from pillar to post cursing him also in the process. I have an excel spreadsheet where I have listed the few assets I have, mainly bank accounts, with all their details and also the nominees. This I update whenever there is a change. My family knows where the file is. If OUR RECORDS R UP TO DATE, chances of disputes are less, ONUS IS ON US. N Sekar Sent from Yahoo Mail on Android On Mon, Feb 14, 2022 at 10:39 AM, 'gopala krishnan' via iyer123<[email protected]> wrote: Dear Mr Sekar, Many times nominee is given for a TDR, but about the TDR either nominee or family members not informed. Mostly nominees mistakes he has all liberty to deal with the money and no need to give to wife. If the nominee knows it has to be give to wife, many nominees simply keep quiet. Sometimes enemity could be reason. Some bachelors purposely do not appoint nominee. They do not want to go their savings to any body. Regarding LIC policies most cases are both the policy holder and nominee/ wife dies in railway accidents, flight accidents etc. Other relatives claiming is very difficult. Being very large organizations unless nominee/wife approach with policy, they could do little. Due to change of rented home, intimation does not reach properly. Many times unless proper person approach with identity, banks may not give any information especially on money matters. Old policies have no photo id. Regarding TDR and LIC payment they would transfer only to the accountant of genuine beneficiary.Gopalakrishnan On Monday, 14 February, 2022, 10:47:42 am IST, 'N Sekar' via iyer123 <[email protected]> wrote: Pl read the article, this is what happens when the survivors don't know the savings details of the departed. There could be, of course, other reasons also but I have experienced, in my working life, how the spouse and other survivors don't have a clue of what is left behind by their bread winner. We try and help but have our own limitations as we know only the bank account to which salary is transferred but not about other investments. We can only go a little distance but not all the way. It is imperative that the spouse at least, knows the full details with nominees updated in all documents. News article: LIC IPO | LIC sits on over Rs 21,000 crore unclaimed funds Full News Link : https://www.moneycontrol.com/news/business/ipo/lic-ipo-lic-sits-on-over-rs-21000-crore-unclaimed-funds-8087831.html Download the moneycontrol App for Free and get real%2��time stock quotes, Indian and Global market indices, portfolio tracker, LIVE TV and in-depth coverage of financial markets. http://m.moneycontrol.com/mom Sent from Yahoo Mail on Android -- You received this message because you are subscribed to the Google Groups "iyer123" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. To view this discussion on the web visit https://groups.google.com/d/msgid/iyer123/807639741.1044188.1644815853404%40mail.yahoo.com. -- You received this message because you are subscribed to the Google Groups "iyer123" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. To view this discussion on the web visit https://groups.google.com/d/msgid/iyer123/2007444896.940214.1644820287886%40mail.yahoo.com. -- You received this message because you are subscribed to the Google Groups "iyer123" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. To view this discussion on the web visit https://groups.google.com/d/msgid/iyer123/989853763.1047418.1644824444641%40mail.yahoo.com. -- You received this message because you are subscribed to the Google Groups "Thatha_Patty" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. To view this discussion on the web visit https://groups.google.com/d/msgid/thatha_patty/1129700522.1007671.1644829127024%40mail.yahoo.com.
