Better you have to execute a will infavour of Daughter .
The nominee will only be the custodian of the investment till it is given to its right beneficiary(s)
Banks ask their account holders to make nominations which mean that they should nominate persons to whom the money lying in their accounts should go in the event of their death. Nomination can be made in account opening form itself or on a separate form indicating the name and address of the nominee. The account holders can change the nomination any time. A nominee is only a custodian of the deposit and his/her responsibility is primarily to ensure that the legal heir of the depositor gets the money from a fixed deposit. He/ she primarily becomes the operator of the account in the event of the demise of the depositor and does not actually own the money or have any legal right over the same.