• Estate money in joint bank accounts

Father dies in 2003. His will gave life interest to my mother and made me the ultimate beneficiary (remainderman) . Mother has been taking interest income/dividends for last 13 years from these accounts.  She has been signing Estate financial documents(capital account/balance sheet etc.) The bank accounts were in joint names (father and mother) and then, changed to her individual name . She made FDs of money and made me as her nominee.
Does my sister have any right to these assets if my mothers will  make her beneficiary ?
Asked 2 months ago in Property Law from United States
Religion: Hindu
if your mother has made FD out of her interest income and made you a nominee you would only be trustee for legal heirs

2) your sister would have share in FD made by your mother

3) your mother execute will in your favour bequeathing you amount lying in various FD

4) will should be attested by 2 witnesses 
Ajay Sethi
Advocate, Mumbai
23079 Answers
1212 Consultations
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your mother as per father will only had life interest in his assets 

2) your mother would not be absolute owner of those assets 
Ajay Sethi
Advocate, Mumbai
23079 Answers
1212 Consultations
5.0 on 5.0
1. The mother has the life interest on your father's estate,

2. The title of the said estate has not been conveyed to her,

3. So, she can not execute any will bequeathing the said estate of your demised father to any body  and should she does that then the said will be invalid abinitio.

4. Your mother can make will for any property standing in her name.

5. Make sure to apply for and avail grant of probate from the Court unless the property is located in a place where probate is not required to be obtained from Court (like N.Delhi).  

6. Your sisters will have no right on the said willed estate of your father.
Krishna Kishore Ganguly
Advocate, Kolkata
12027 Answers
226 Consultations
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1. Bank will not object if she operates the account since she is the joint holder of the said account.

2. However, she can not own it since it is part of the estate property of your demised father.

3. If the will clearly mentions about her maintenance from the earnings of the estate properety, then she is entitled to use the said fund for her maintenance. 
Krishna Kishore Ganguly
Advocate, Kolkata
12027 Answers
226 Consultations
5.0 on 5.0
1) if the bank accounts were in joint names on your father death as per his will mother had life interest .on father 50 per cent share in those FD 


2) we have not perused the father will .

3) from facts stated by you it appears that your mother was entitled to interest income on those fixed deposits 

4) your mother cannot bequeath bank  accounts which form part of her father estate to her daughter . 

5) it is advisable to seek probate of father will 

6)enclose your father death certificate and affidavit of attesting witness 

7) it should not take more than 6 months 
Ajay Sethi
Advocate, Mumbai
23079 Answers
1212 Consultations
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Your sister has no right of succession to the properties, movable and immovable of your father, if you are the ultimate beneficiary of his will. Your mother has no right to bequeath any of the properties in respect of which she has only a life estate according to the will of her husband. If she has executed a will that is in violation of the rights which have been conferred on her by your father's will the same can be challenged in the civil court.

Ashish Davessar
Advocate, Jaipur
18049 Answers
445 Consultations
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 When an account is opened by two or more individuals such accounts are known as joint accounts.These are opened to facilitate operations and are governed under section 45 of Indian Contract Act. The balance in this account is the joint property of the account holders and can be disposed of as per instructions of the joint account holders. Since your mother has made a nomination in your favour you are entitled to receive the amount of credit of the deceased depositor immediately after the death, irrespective of the amount, without production of legal evidence.
Ashish Davessar
Advocate, Jaipur
18049 Answers
445 Consultations
5.0 on 5.0
1. No. She does not have the right to claim the amounts lying in the said Bank account which has been declared as part of your father's estate.

2. The amount which she can not legally claim to of her can be gifted to anybody by her.
Krishna Kishore Ganguly
Advocate, Kolkata
12027 Answers
226 Consultations
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1. The Bank accounts were in the joint names of your father and herself which she has changed in to her name which are in record.

2. She has shown those accounts in the balance sheets of your father's estate admitting that those accounts are estate properties.

3. So, she does not own those accounts and can not gift the amount kept in those accounts in favour of any body.
Krishna Kishore Ganguly
Advocate, Kolkata
12027 Answers
226 Consultations
5.0 on 5.0
Father dies in 2003. His will gave life interest to my mother and made me the ultimate beneficiary (remainderman) . Mother has been taking interest income/dividends for last 13 years from these accounts.  She has been signing Estate financial documents(capital account/balance sheet etc.) The bank accounts were in joint names (father and mother) and then, changed to her individual name . She made FDs of money and made me as her nominee.
Does my sister have any right to these assets if my mothers will  make her beneficiary ?

Since your mother is having lifetime interest in the property, the benefits also may to her, i.e., the revenue augmented from the estate in which she has a lifetime interest. 
Therefore she becomes the absolute owner to such revenue which she can bequeath in her daughter's name too. 


T Kalaiselvan
Advocate, Vellore
13902 Answers
127 Consultations
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These bank accounts are being shown for 13 years as assets of Fathers estate. Can the ownership change to mother by virtue of her being joint holder. Although ,in father's will, she is entitled to life interest only.

he bank account being joint account on E or S, she becomes the absolute owner of this bank deposits and she can very well transfer it to anyone of her choice. 
T Kalaiselvan
Advocate, Vellore
13902 Answers
127 Consultations
5.0 on 5.0
These bank accounts have been there for over 20 years showing as part of fathers estate.and my mother has been taking interest income and dividends after my fathers death in 2003.(provision of fathers will)  She never took out any part of the capital . Balance sheets/capital accounts have been showing these account as part of Father's estate for 13 years.  Now, she has a handwritten will saying all my bank a/cs, shares etc will go to my daughter with whom she was living. Please clarify if she can will the bank accounts showing in fathers estate for decades as assets of the estate.

Even if you write the same question in any manner the answer is yes.  She has full rights to bequeath the movable properties to her daughter alone, there is no law restricting her from doing it. 
T Kalaiselvan
Advocate, Vellore
13902 Answers
127 Consultations
5.0 on 5.0
The conflict is that these accounts are showing as Father's estate in balance sheets signed by my mother. But at the same time, these accounts are being shown in her individual name bank account with me as her nominee.


This question has been well answered in the previous questions. 
T Kalaiselvan
Advocate, Vellore
13902 Answers
127 Consultations
5.0 on 5.0
1) mother had 50 per cent share in bank accounts 

2) further father had by his will given mother life interest in respect of money lying in FD and other assets

3) hence your mother would be entitled to interest income 

4) interest income would be her property and FD created out of said interest income can be disposed of by her as she pleases
Ajay Sethi
Advocate, Mumbai
23079 Answers
1212 Consultations
5.0 on 5.0
The question is posted for an answer from a knowledgeable lawyer.  
If you are having more knowledge then what was the necessity for this question.
Your questions were answered as per provisions of law  and if you are not knowing law you can very well  seek clarification.  
if a property is bequeathed with life interest, all the revenue augments out of such immovable property shall be enjoyed by the person who is having life interest in it until and unless the testator has specifically mentioned in his testamentary disposition  that the revenue or mesne profits derived out of such immovable property shall be shared by the end beneficiary with the life interest beneficiary or  by the ultimate beneficiary alone.  In the absence of any such recital the beneficiary who has been bestowed with lifetime interest in the property shall enjoy the revenue solely.
This is position of law.
If you dont want to understand the law which is not favoring you then you will be thoroughly misguided with favor monger's advise  who for wrongful gains may suggest you misleading clarification.
You can look for advises from knowledgeable lawyers (?)
T Kalaiselvan
Advocate, Vellore
13902 Answers
127 Consultations
5.0 on 5.0
1) you are absolutely correct that as per father will you ate ultimate beneficiary 

2) residue has to go to the ultimate beneficiary as per will 

3) loan taken by mother has to be paid to father estate 
Ajay Sethi
Advocate, Mumbai
23079 Answers
1212 Consultations
5.0 on 5.0
1. Life interest holder does not have the right to alienate the property unless there is a provision in the will to the contrary. He also does not get the title to the property in respect of which he has only a life estate. Mere taking of interest income does not have a nexus with the acceptance of the accounts as belonging to father though.

2. If you want a clear and comprehensive opinion then consult a lawyer with a copy of the will.
Ashish Davessar
Advocate, Jaipur
18049 Answers
445 Consultations
5.0 on 5.0
The residue has to go to the beneficiary unless either there is a clause to the contrary in the will or the residue in entirety or part thereof was generated with the efforts of your mother. As I said before, consult a lawyer with the will copy.
Ashish Davessar
Advocate, Jaipur
18049 Answers
445 Consultations
5.0 on 5.0
His will says "After my wife passes away ,my entire movable and immovable property will be bequeathed to my son "   I am talking about the capital..not about the revenue..she has already enjoyed revenue in her life time....we are talking about the residue which needs to go to ultimate beneficiary..as per will. Do you differ ?

This information what has been furnished now was not divulged earlier.
It is but natural that the entire properties along with what all other revenues pending or is balance shall be attained by the ultimate beneficiary.  Here the problem is that if your mother had collected the revenues and deposited them in he own account and few amount remains balance in her account upon her intestate death, the said balance amount shall devolve on her legal heirs  equally.




His Will clarifies that after wife's death, all leftover property will go to son.
FD is not created out of interest income..its created by a loan she took from estate and she was taking interest of this  FD.  Loan by her has to be paid to father's estate . Isn't it true?

The answer to this question lies in your question itself. i.e., all let over property will go to son.
Thus she had developed the estate amount by creating a FD and it was not out of the interest amount or revenue that she obtained during her lifetime. Thus naturally this FD amount belongs to the estate and not her individual amount. This is a matter of interpretation and argument when a dispute arises, however it is a clear fact that the said deposit is part of the estate amount hence the ultimate beneficiary shall avail the same upon enforcement of Will..
To be doubly confirmed about this, you can apply for probate of will so that the court will certify this estate too as bequest after which all the doubts against it shall stand clarified.
T Kalaiselvan
Advocate, Vellore
13902 Answers
127 Consultations
5.0 on 5.0
1.  She has shown the said FDs as estate properties in the balance sheet of the estate.

2. so, admittedly the FDs are estate property.

3. There can be no further argument on this issue after her such admission as per law. 
Krishna Kishore Ganguly
Advocate, Kolkata
12027 Answers
226 Consultations
5.0 on 5.0
1.The said FDs are estate properties as per records and also as admitted by her while signing the balance sheets of the estate.

2. Since those FDs are estate properties, she does not own those FDs.

3. She can not will anything which she does not own.
Krishna Kishore Ganguly
Advocate, Kolkata
12027 Answers
226 Consultations
5.0 on 5.0

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