Is notarized affidavit mandatory to lay down your rights as nominee?
Hello my mother had some mutual funds she passed away recently and I came to know that I was the nominee. For some personal reasons I do not want to execute this nomination and would like any of my my other brothers and sisters take over this nomination and execute the nomination independently without involving me. How do I go about doing this? Can I make a notarized affidavit saying the above which my brother or sister can give to the mutual fund company and go about encashment of the mutual funds in their names?
To decline your role as a nominee, you can draft a notarized affidavit stating your intention to decline the nomination. In this affidavit, clearly express that you wish for one of your siblings to take over the responsibility of executing the nomination and encashing the funds. Your sibling should present this affidavit, along with their identification and proof of relationship, to the mutual fund company. It's advisable for them to contact the company directly for specific procedures. Consulting a legal professional can also ensure compliance with all requirements and protect your interests.
Ma’am, you can make a notarized affidavit stating that you want to lay down your rights as nominee with the help of an expert lawyer. For further legal assistance contact us on our helpline number.
Related Questions
24x7 Help
If we fall short of your expectation in any way, let us know
Payment Trust
All refunds come with no questions asked guarantee
