What real cases teach Indian families.

The situation: A nominee claimed the deceased depositor's bank money as his own, while other family members claimed a share as legal heirs.

The outcome: The Supreme Court held that money received by a nominee forms part of the deceased's estate and devolves according to the law of succession. The nominee only receives it — they don't own it.

Naming a nominee is not the same as making a Will.

The situation: A family patriarch left a Will, but had also nominated certain relatives on fixed deposits of ₹4.14 crore and mutual fund holdings of ₹3.79 crore. The nominees argued that the nomination gave them absolute ownership, shutting out the other heirs.

The outcome: The Supreme Court held that a nominee under Section 109A of the Companies Act and the depository bye-laws does not acquire beneficial ownership. The nominee holds the securities for a limited purpose, and the value falls into the estate for the legal heirs.

Nominations on shares and mutual funds do not override a Will or succession law — keep both in the same plan.

The situation: A son was the nominee on his late mother's fixed deposits at Bank of Baroda. His succession suit was stuck because another suit challenged her alleged Will — four years after her death.

The outcome: The court allowed him to collect the money as nominee, but made clear it remains subject to succession laws and the other heirs' rights.

A disputed or unclear Will can freeze a family's assets for years.

The situation: A family disputed whether a plot bought by their father after a partition was joint family property that all heirs could claim, or his own to sell. The High Court treated it as joint property.

The outcome: The Supreme Court set that aside: property allotted on partition becomes the coparcener's self-acquired property, and no property is presumed joint merely because a Hindu Undivided Family exists. Blending self-acquired property into the family pool needs clear intention.

Write down which assets are ancestral and which are self-acquired — it decides who can claim what.

The situation: The legal heirs of a tribal woman sought her equal share in their maternal grandfather's property. The courts below refused, saying no custom proving a daughter's right had been established.

The outcome: The Supreme Court granted the heirs an equal share, holding that where custom is silent, denying a female heir violates her right to equality — and that customs cannot be used to deprive others of their rights.

Record your shares clearly. Where the law or custom is unclear, your written wishes are what your family will lean on.

The situation: Accounts inactive for 10 years move to the RBI's Depositor Education and Awareness Fund. Heirs often don't know the accounts exist.

The outcome: The RBI launched a special drive to settle unclaimed funds. Heirs must still show a succession certificate or probate — though banks may accept a legal heirship certificate for smaller amounts.

If your family doesn't know about an asset, they can't claim it.

The situation: Banks followed different practices when settling the accounts, lockers and safe-custody items of deceased customers, causing hardship to families.

The outcome: The RBI issued the Settlement of Claims in respect of Deceased Customers of Banks Directions, 2025 to standardise documents and speed up settlements.

Well-organised documents make every claim faster.

The situation: Families waiting to inherit shares and mutual fund units faced different paperwork from every company, registrar and depository, with no fixed timeline and, often, a demand for probate.

The outcome: SEBI's circular of 23 July 2026 standardised the process: Quick Transmission Processing for small claims (up to ₹10,000 physical and ₹30,000 demat), simplified documentation up to ₹10 lakh and ₹30 lakh, probate no longer mandatory, a combined affidavit-cum-NOC, and settlement within 21 calendar days of complete documents.

The paperwork burden is falling — but only for families who can produce the right documents quickly.

The situation: Shares whose dividends go unclaimed for seven consecutive years are transferred to the Investor Education and Protection Fund, along with the dividend arrears. Heirs rarely know the holdings exist.

The outcome: The IEPFA reports roughly ₹80,000–90,000 crore lying unclaimed and is launching a 'Niveshak Setu' integrated portal to move claims from repeated paper submissions to digital verification.

Old share certificates and dormant folios need a named owner and a named heir — before the clock runs out.