No data is mandatory on the portal. The objective of GiftMyLegacy is to ensure that all relevant information is available for your family once you are gone, hence adding as much information as possible is advised. The safe keep of the data is guaranteed by Bank level encryption. Even the administrators of the site/portal do not have any access to the data uploaded.

In case of a natural calamity like Tsunami, floods, fire etc, your laptop, desk top etc may get damaged and inoperable. Having the data stored on the cloud with the right level of security makes data accessible at any time via any laptop/desktop or a smart phone. Also, the information is necessary for your legacy to continue should the need arise for your family. A one stop access to all the information is the convenience we can provide to our family.

In case of your demise, your 3+ executors will have to independently attest by sharing the signed certificate. This confirmation will allow GiftMyLegacy to raise an electronic key that will enable the nominee to access the portal. Every piece of information that is saved will be shared with the nominee in a read-only format.

At least 3 of your most trusted people can be your executors. It is advised that the executor should be different from the nominee. It is also recommended that the executors are adults over the age of 21. It is also recommended that the executors are trusted by you to do right thing when the time arrives. There is a significant degree of reliability on the executors. We recommend you have a conversation with the executors prior to bringing them on board.

Below is a list of roles and responsibilities of the executor. This is not an exhaustive list and will be amended periodically.

• Any trusted family member, friend or relative who is close to you.
• Executor will have to accept the invitation and hence ability to access his/her emails.
• Will ensure that if the need arises, he/she will reach out to GiftMyLegacy with the appropriate documentation.
• As a subscriber, you can change the executor anytime

Below is a list of roles and responsibilities of the executor. This is not an exhaustive list and will be amended periodically.

• Any trusted family member, friend or relative who is close to you.
• Executor will have to accept the invitation and hence ability to access his/her emails.
• Will ensure that if the need arises, he/she will reach out to GiftMyLegacy with the appropriate documentation.
• As a subscriber, you can change the executor anytime

The portal/app is designed to send notifications to you on periodic basis to remind on everything from insurance premiums, loan payment dates, any other payments you need help with. Also, there will be reminders on renewal of subscription, updating of information etc.

A bank locker has limited space and is available only during backing hours/days. GML is available 24×7 and with unlimited space to store all your critical information. If you have a bank locker, please add that information on GML for your family to know.

GiftMyLegacy provides a bank level security with complete encryption of data that can be accessed by only you. GiftMyLegacy helps you to organize your information in one place so that your family can access ALL the critical information when the need arises.

A WILL means the solemn declaration of the intention of the Testator with respect to his / her property, which he / she desires to be carried into effect after death and the document speaks of the wishes post the lifetime of Testator.

The Will sets out the modality of distribution, gives names of beneficiaries and names the executor / executors in respect of the WILL.

Any person not being a minor, having a sound mind can make a WILL.

• The Testator is the person who declares his/ her desires/wishes in terms of a Will.
• Two Attesting witnesses are required by law to attest the signature of the Testator and confirm that they were both present at the time of execution/ signature of the WILL by the Testator.
• Beneficiary/ies or Legatee is / are person/s to whom the benefits under the WILL are given / bequeathed.
• Executor/s is / are appointed by the Testator, to ensure that the desires setout in the WILL are acted upon and assets are distributed as per the WILL.

• The testator must be in possession of a sound disposing mind and have power over the property which he/ she intend to bequeath;
• Have intention and give clear direction in regard to the property bequeathed;
• The WILL be should be in writing (hand written or typed) in correct form (contain full name, address, date) and as per law regarding the signature and attestation;
• If the WILL is in a language not known to the Testator the same should be read over and explained by a competent person so that the testator fully understands the nature, content, and implication of the document and the person so explaining shall make an endorsement on the WILL to that effect.

The Indian Succession Act, 1925 set outs the law relating to testamentary (WILLS) and intestate (without a WILL) succession.

For intestate succession i.e., when there is no WILL, Hindus, Buddhists, Sikhs and Jains will be governed by the Hindu Succession Act, Christians, Parsi’s and Jews will be governed by the Indian Succession Act. Muslims will be governed by the Muslim Personal Law (Shariat) Application Act.

No, you can write your own, but it is always best to see an attorney so you can be sure that your WILL is a valid document that will stand the test in a court of law if challenged, after your death.

No, everyone does not have to execute a WILL. If there is no WILL, the personal property will pass by law of succession as per the religion of the deceased to the legal heirs only. It is however advisable to plan for the future and make a WILL to set out personal wishes and deal with distribution of property even to heirs and is important for all adults regardless of their wealth, marital status or age.

A Nominee is entitled to receive the proceeds from a bank account, insurance policy etc., on the death of the account holder / Owner. However, the nominee is not the lawful owner, unless he/she is the legal heir of the deceased as stipulated by law of succession or WILL. He/ she will receive and hold the proceeds only in capacity as a trustee for the legal heir(s).

The only exception is in regard to a nominee of an Owner in a Cooperative Housing Society, which issues shares of the Co-operative Housing Society to its members who are owners of the flats / property. In such cases, the Apex Court has recently held that such ‘nominee’ shall be considered to be the owner of the shares of Co-operative Housing Society.

It is not mandatory under law to register a WILL. It is however beneficial to have the WILL registered to avoid the questionability on the genuineness of WILL.

All movable and immovable property of the Testator can be transferred under a WILL, including a right to an ancestral property, a right to a joint property, equity shares and securities, cash in banks, fixed deposits, cash in hand, share in an HUF, Intellectual property, assets in a partnership firm, personal belongings including jewellery, artifacts, antiques, art-work, books, etc.

Yes, two individuals can jointly make a single WILL Eg. Husband and wife.

However, if husband and wife have certain property, they can only WILL their individual shares in the property to their chosen beneficiary (ies).

Preparing a joint Will is not usually recommended (other than in cases of husband & wife), as it is a multiple WILL in one document and can be revoked by either of the testators during their lifetime. Such WILL can also be revoked by the surviving testator, thus raising complexities in its execution.

It is recommended that each individual, e.g. husband and wife, prepare separate Will’s for the jointly held property (ies) / assets.

Yes. Both, a registered and unregistered WILL’s of a deceased Testator can be challenged in the Court under the following grounds:

The Testator was not of sound mind when making the WILL;

The WILL was prepared under coercion, undue influence, fraud, by mistake or by misrepresentation; and not made out of free will of the Testator.

To rule out the above conditions, the following is recommended:

• Video recording of the WILL, on the date of execution i.e. (Testator & witness signing the Will);
• Registration, of the WILL should be registered at the Sub Registrar’s office to add to its authenticity;
• Appoint an executor (who is not a minor), having capability to take steps to execute the WILL. Multiple Executors can also be appointed. An Executor or a Trustee under a WILL cannot nominate another person to act on his/her behalf.

If you think your WILL is likely to be challenged by any person you may exercise the following precautions:

• A WILL should be prepared through a trusted Advisor or advocate.
• The choice of the witnesses should be good and credible.
• Process of the writing, executing and witnessing the Will is duly video graphed.
• The WILL may be registered with the concerned Sub-Registrar.

An Executor is the person who will carry out the wishes as set out in the WILL. It is his duty to disburse the assets to the beneficiaries as stated in the WILL.

It is not mandatory to appoint an Executor.

A Beneficiary is a person or entity named in the WILL as the inheritor of assets / property when Testator is no more.

All your loved ones, including spouse, children, grandchildren, friends, relatives, servant, or any institution school/s, temple/s, trust/s, charity, etc. to whom you wish to bequeath your property or part asset can be included as beneficiary/ies to your WILL.

Yes, you can exclude an immediate family member from receiving your property or being a beneficiary/ies of your self-acquired assets. However, HUF inherited property cannot be excluded under a WILL.

It is better if the witnesses are not beneficiaries and are not related to a beneficiary under the WILL.

You can appoint any person whom you trust to follow up on your wishes to be an Executor/s of your WILL. It is advisable to take approval of the Executor so that there is no trouble later on. It is also advisable to have a younger person to be the Executor so that he is around even after your demise. You may appoint an advocate or consultant as an Executor to your WILL as they are generally considered a neutral third party.

You can appoint one or more executors. This is personal to the testator of the WILL.

Only in case of a bequest to a minor, a Guardian would be required to be named in a WILL as a minor is not competent to contract in relation to property. A guardian will have to be a major, someone you trust and be capable of taking care of the minor/s interest and could be a relative or a close friend.

A WILL can be changed at any time and as many times as the Testator desires during his / her lifetime, by revoking the former WILL or by making suitable Codicils in regard to the changes in the WILL. The later WILL shall have precedence over a previous WILL, unless it is proved that it was made under coercion or is deficient in form or contrary to legal requirements.

One can create a Trust under a will bequeathing all assets upon demise to a private or a charitable Trust created under the WILL. Such trust is known as a Testamentary Trust. Such trust can be set up for the benefit of family members or such persons who the Testator desires to include as its beneficiaries. This is considered as a good way to address succession related issues on long term basis for the next generation.

The Testator may mention details of movable and or immovable assets held outside India. However, as the same are not within the territorial jurisdiction of India, the same cannot be dealt with under Indian law.

The Testator may mention details of movable and or immovable assets held outside India. However, as the same are not within the territorial jurisdiction of India, the same cannot be dealt with under Indian law.

Application: A petition needs to be filed with the district court or high court within whose jurisdiction the asset is located.

Details: The name and relationship of the petitioner, names of all heirs of the deceased, details about the time, date and place of death should be mentioned in the application. A copy of the death certificate has to be produced.

Process: The court typically issues a notice in the newspapers for a given period (generally 45 days). If no one contests the petition on the expiry of this period, the court passes an order for issuance of succession certificate.

Fees: The court levies a fixed percentage of the value of the estate as fee for issuance of the certificate.

Points to note
The court fee has to be paid in the form of judicial stamp papers of the required amount, after which the certificate is typed, duly signed and delivered. In addition to the court fee, the lawyer’s fee also needs to be taken into account. If the petition is not contested, the court usually issues a succession certificate in five to seven months.
(The content on this page is courtesy Centre for Investment Education and Learning (CIEL).)

A Legal Heirship Certificate is issued by a tahsildar. A tahsildar is an officer of the revenue branch of the State.

A tahsildar has no right to decide on disputed issues of title or succession. Prior to the issuance of the Legal Heirship Certificate, a summary enquiry is undertaken by the tahsildar, through his or her functionaries, to ascertain the legal heirs of the deceased, so far as may be possible.

A certificate is issued on the basis thereof.

This certificate is useful for certain very, very limited purposes, such as mutation of revenue records and the like. Certain public limited companies are also prepared to act upon this certificate, rather than put individuals through the grind of applying to the court for a formal certificate.

Wherever there is a dispute, or a more formal certificate is required, a person claiming rights under a deceased has the option to apply to the competent court for the issuance of a Succession Certificate.

If the deceased has left a will, then, certain other court procedures will come into play.

Irrespective of the above, if there are disputes between the various parties claiming to be heirs of the deceased, these may be resolved by the parties either amicably or through court. In all these cases, the Legal Heirship Certificate pales into insignificance.

To sum up and answer your queries:

A Legal Heirship Certificate assumes importance only in a scenario where there is absolutely no dispute regarding the persons entitled to succeed to the estate of a deceased person. It cannot be relied on to establish title of any kind. It is not final and binding. Any person who believes that he too is a legal heir, will always be entitled to ignore such Legal Heirship Certificate and institute appropriate proceedings before a competent court.

The court which is called upon to adjudicate in such proceedings will disregard the Legal Heirship Certificate and will decide the matter on the basis of direct evidence laid before it.

A person who relies on a Legal Heirship Certificate can therefore do so if he is reasonably certain that there are no disputes between the parties who assert claims to the estate of the deceased.

Succession Certificate is an order granted by an Authority or court of competent jurisdiction to the successors of estate of a deceased person on the basis of application made by such persons in the capacity as legal heirs or otherwise entitled to succeed to the estate of the deceased person in certain circumstances.

Death Certificate is a document issued by the government to the kin of the deceased, stating the date, fact and cause of death.

Law states that it is mandatory to register a person’s death with the concerned State Government within 21 days of its occurrence.

Why is a Death Certificate required
This certificate is required to establish the fact of death legally, for relieving the deceased from social, legal and official obligations.

It is also used to enable settlement of property inheritance, and to authorise the family to collect insurance and other benefits.

Documents required

• Proof of birth of the deceased
• An affidavit specifying the date and time of death
• The required fee in the form of court fee stamps
• A copy of the ration card

The person who is applying for a death certificate is required to provide the evidence of relationship with the deceased, complete address and proof of nationality.

Where to get application forms
The application form to apply for a death certificate is available with the area’s local body authorities and the Registrar who maintains the Register of Deaths.

An evidence of death is required either in the form of a hospital letter where death took place or a certificate from a civil official who certified the death at either the crematorium or burial grounds.

Procedure to apply for Death Certificate
A death is first registered with the concerned local authorities within 21 days of its occurrence, by filling up the form prescribed by the Registrar, in order to apply for a Death Certificate.

Death Certificate is then issued after proper verification.

Registration Fees
Death registrations done within 21 days of its occurrence are done free of cost.

From 21 to 30 days after the death, the Medical Officer, Health(MOH) will certify, collecting a fine of Rs 25.

After 30 days to within a year of death, only the Joint Director of Statistics can provide the certificate with a fine of Rs 50 and an affidavit.

If the death is registered after a year, the applicant can get the certificate by order of a first class magistrate only, which can be a lengthy process. For this, the applicant will need the Cause of Death Certificate, Cremation Certificate and an Affidavit.

Filing a Life Insurance Claim
Claim settlement is one of the most important services that an insurance company can provide to its customers. Insurance companies have an obligation to settle claims promptly. You will need to fill a claim form and contact the financial advisor from whom you bought your policy. Submit all relevant documents such as original death certificate and policy bond to your insurer to support your claim. Most claims are settled by issuing a cheque within 7 days from the time they receive the documents. However, if your insurer is unable to deal with all or any part of your claim, you will be notified in writing.

Types of claims
Maturity Claim – On the date of maturity life insured is required to send maturity claim / discharge form and original policy bond well before maturity date to enable timely settlement. Most companies offer/issue post dated cheques and/ or make payment through ECS credit on the maturity date. Incase of delay in settlement kindly refer to grievance redressal.

Death Claim (including rider claim) – In case of death claim or rider claim the following procedure should be followed.

Follow these four simple steps to file a claim:

1. Claim intimation/notification
   The claimant must submit the written intimation as soon as possible to enable the insurance company to initiate the claim processing. The claim intimation should consist of basic information such as policy number, name of the insured, date of death, cause of death, place of death, name of the claimant. The claimant can also get a claim intimation/notification form from the nearest local branch office of the insurance company or their insurance advisor/agent. Alternatively, some insurance companies also provide the facility of downloading the form from their website.
2. Documents required for claim processing
   The claimant will be required to provide a claimant’s statement, original policy document, death certificate, police FIR and post mortem exam report (for accidental death), certificate and records from the treating doctor/hospital (for death due to illness) and advance discharge form for claim processing. Based on the sum at risk, cause of death and policy duration, insurance companies may also request some additional documents.|
3. Submission of required documents for claim processing
   For faster claim processing, it is essential that the claimant submits complete documentation as early as possible. A life insurer will not be able to take a decision until all the requirements are complete. Once all relevant documents, records and forms have been submitted, the life insurer can take a decision about the claim.
4. Settlement of claim
   As per the regulation 8 of the IRDA (Policy holder’s Interest) Regulations, 2002, the insurer is required to settle a claim within 30 days of receipt of all documents including clarification sought by the insurer. However, the insurance company can set a practice of settling the claim even earlier. If the claim requires further investigation, the insurer has to complete its procedures within six months from receiving the written intimation of claim.

Claim intimation
In case a claim arises you should:
Contact the respective life insurance branch office.
Contact your insurance advisor
Call the respective Customer Helpline

Claim requirements
For Death Claim:
Death Certificate
Original Policy Bond
Claim Forms issued by the insurer along with supporting documents

For Accidental Disability / Critical Illness Claim:
Copies of Medical Records, Test Reports, Discharge Summary, Admission Records of hospitals and Laboratories.
Original Policy Bond
Claim Forms along with supporting documents

For Maturity Claims:
Original Policy Bond
Maturity Claim Form

What is the procedure for transferring monies from an account of the deceased, in case a nominee is mentioned?

When Nomination is registered with the bank, the nominee can apply to the Bank, giving full details of the accounts of the deceased depositor. On receipt of the claim from the nominee, the branch will verify the photocopy with the original Death Certificate, Nomination number as registered in CBS, Nomination register.

Signatures of two witnesses of good standing and integrity who are acceptable to the Bank should also be provided on the application. The witness can be any of the following:

Magistrate or Judicial official
Any Officer of the Central / State Government or Any Officer of the Bank.
Any two persons acceptable to the Bank.

IN case a nominee is not indicated
In a deceased account where there is neither Survivorship clause nor Nomination, our Bank delivers the assets only to the legal heirs. As disposal with legal representation is time consuming, to improve customer service, our Bank has devised a system of settling the accounts without production of legal representation on the basis of Indemnity – cum – Affidavit. This is applicable only when:

The customer has died INTESTATE i.e. without a WILL and
There are no disputes among the legal heirs and all the legal heirs (other than those who have furnished a Letter of Disclaimer) join in indemnifying the Bank and there is no reasonable doubt about the genuineness of the claimant(s) being the only legal heirs.