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Does a nominee need a succession certificate

In some cases, the nominee may be required to provide a succession certificate to the financial institution or other entity holding the assets.

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Does a nominee need a succession certificate

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  1. Does a nominee need a succession certificate? No, a nominee does not need a succession certificate to inherit assets from the deceased person. A succession certificate is a document issued by the court that confirms the legal heir of the deceased person. It is required to transfer assets such as immovable property, shares, and bank accounts to the legal heir. A nominee is a person who is named by the deceased person to receive their assets in the event of their death. The nominee does not need a succession certificate to inherit the assets, as they are already considered the legal heir. However, if there is any dispute over the inheritance, the nominee may need to obtain a succession certificate to prove their claim.In some cases, the nominee may be required to provide a succession certificate to the financial institution or other entity holding the assets. This is because the institution may want to ensure that the nominee is the rightful heir and that they are authorized to receive the assets. Here are some of the cases where a nominee may need a succession certificate: ● If the nominee is not a legal heir of the deceased person. ● If there is a dispute over the inheritance. ● If the nominee is a minor. ● If the nominee is deceased. If you are a nominee, it is important to check with the financial institution or other entity holding the assets to see if they require a succession certificate. You can also contact GLC Wealth to get more information about your rights and options.

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