Claiming Deceased Grandparent's FDs Without a Will: A Guide for Grandchildren

• Fixed deposits (FDs) are common household savings, often forgotten until a grandparent's passing, especially when no Will exists or FDs are omitted.
• Grandchildren may not be aware of their rights, assuming only closer relatives can claim FDs, but relevant personal laws like the Hindu Succession Act, 1956, clarify inheritance.
• Under the Hindu Succession Act, children of pre-deceased sons or daughters are Class 1 legal heirs, having simultaneous and equal rights to FDs as other Class 1 heirs.
• A nominee is a trustee, not a beneficiary; they must disburse funds to legal heirs as per succession laws, requiring an affidavit, indemnity bond, and death certificate.
• If no nominee exists, legal heirs can directly claim FDs from the bank with supporting documents like a death certificate, succession/legal heirship certificate, indemnity bond, and KYC.