Need for a WILL despite having a nominee.
Life is uncertain and pandemic has made us realise that in a very stronger sense. In this pandemic, it is important for us to set our personal finance matter right and look beyond and think how are finances going to benefit our loved ones, beyond us. An individual often believes that once he or she has filed the Nomination section of his investment then the nominee automatically becomes the beneficiary of the underlying assest after the individual’s demise. As per Law, A nominee is only a custodian of the asset and not the ultimate beneficiary of the asset. The Nominee only has the right to represent on behalf of the owner and does not necessarily have any kind of entitlement over the asset. If something happens to the owner, then…
