Want to claim fixed deposits of your deceased grandparent where there is no Will? Here’s how you can do it

For many Indian families, fixed deposits (FDs) are the quiet, dependable backbone of household savings which sometimes are opened years ago, rolled over dutifully, and then largely forgotten. The trouble begins when a grandparent passes away and these deposits resurface at an emotionally difficult time. It may so happen there is no Will or the subject matter of fixed deposits is inadvertently or otherwise omitted in the Will. “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. Read more