What happens if complete family dies together?
We all be here, nominating each other in bank accounts life insurance and what not What's the legal recourse?
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Hmm interesting 👻
3 AM thoughts 😅
Seems like an after-effect of a true crime movie 😬
You have certain Legal Heirs by law - For example, under Hindu Succession Act, your children and spouse are your Class I heirs, after marriage, a woman's parents are her Class II heirs, so whichever is the top tier class heir left can come and lay a claim if a person dies intestate
If there are no legal heirs left or no claim made, the government assumes ownership
That makes sense, thank you
Who'll sit on the iron throne now 😳
Go to sleep my dude 🫂
I'm an IRDAI insurance advisor and mutual fund distributor. Some smart guys often question such. Read the below to know class 1 and class 2 legal heirs. https://incometaxindia.gov.in/Acts/Hindu%20Succession%20Act,%201956/102120000000004350.htm
Wow thank you. This is very unexpected. Fathers parents come 5th in line
I know a family where everyone died because of covid. The house became empty suddenly. I think the government took over the house. But I pray it shouldn't happen to anyone.
Hindu Succession Act applies for Hindus , smart people with serious money also write wills if necessary . Lineal ascden and descendents concept apply . Till UCC is implemented personal succession laws will apply as per the religion of the person .
Good question. Not sure though, if I were to guess, money goes to Government