Claiming grandparents’ fixed deposits after death: What to do without a will

Fixed deposits (FDs) have long served as a cornerstone of Indian household savings. Frequently, these accounts are established by grandparents’ years in advance and may be overlooked by the family following their passing. “For instance, in the case of Hindus (covered under the Hindu Succession Act), Class 1 legal heirs inherit simultaneously and equally. Children of pre-deceased sons or daughters of an individual are considered Class 1 legal heirs. This means that such grandchildren have simultaneous and equal rights, as any other sons or daughters or other Class 1 legal heirs of the deceased grandparent,” said Varun Sriram, Partner, JSA Advocates & Solicitors, according to Moneycontrol.  Read more