Financial Guidance Request

[azura]

Hi TF community,

I lost my only parent and have no clue on how to handle the finances he left behind.
I need some ideas/help to guide me on what to do with his wealth (mostly in bank FD's).
Totally lost and need some guidance on how to go forward from here.
His assets/stocks/insurances etc, what should I be looking for? How to secure them? What investment options do I have?

Any knowledge/help regarding the above situation will be appreciated.

 

[2025]

Sorry for ur loss.
The basic one:
1. check his email account if u can access that (through mobile/ laptop etc), u will get idea about his investments based on CAS report provided by NSDL/CDSL.
2. Inform the insurer immediately.
3. Approach banks. They will guide u regarding FDs and Savings. If ur name is there as nominee then work half done. submit Death Certificate.
4. If u do not have mobile/email access then try to recover that. That will help u more than checking hard copies.
5. Also look at his ITRs and approach his employer if he was on employment.
Other members will guide u more. Best Wishes.

 

[Vasuki]

Hi TF community,

I lost my only parent and have no clue on how to handle the finances he left behind.
I need some ideas/help to guide me on what to do with his wealth (mostly in bank FD's).
Totally lost and need some guidance on how to go forward from here.
His assets/stocks/insurances etc, what should I be looking for? How to secure them? What investment options do I have?

Any knowledge/help regarding the above situation will be appreciated.

You can Dm , will add few people in the conversation
If u real about money & not just gaslighting

Sorry for your loss .it's unbearable pain

 

[cardio_guy]

Extremely sorry for your loss. May God give you the strength to overcome the grief.

Coming to your question - most important thing is make sure you have access to his phone, unlock pin or pattern, UPI pin, make sure his number is active.
2nd thing - access to his mail. Make sure you have the password and you can access it.
3 - make sure you have his aadhaar number, pan number, UAN number if he was employed, and all bank account numbers.
4. Don't try to fix everything together. Start one by one. How many siblings do you have? If you have brother or sister they will have equal rights as you.
5. Don't approach lawyer immediately. Take time and first write down what all accounts he has, lic policies, bank accounts, fds, shares, mutual funds, etc.
6. Redeem online whatever possible through just logging in and by the click of it. (Like MF, stocks, closing some FDs, transferring all balances from other accounts etc) --> actually this is very illegal, do it only if you are single kid and no other legal heirs.
7. After finishing all that you can do by yourself, then approach LIC or other insurer to get claim for life insurance.
8. Go to lawyer only for transferring lands, building or any real estate. Rest you can actually do by yourself.
Be strong.

 

[amitagl27]

Really sorry for your loss. Below are the things you can check.

Assumption:

• You've Access to Mobile/Gmail
• Aadhar is attached to Mobile so you can get OTPs
• PAN and Aadhar are linked

Investments

• Life Insurance (Term Life, LIC) - Check Email for various policy/docs. For LIC, you can check on their customer portal. It should let your register and login to check all policies
• EPF (UAN Number) - You can find/retrieve using EPFO Portal
• Stocks - Get it from NSDL CAS
• Mutual Funds - Use MF Central to see Mutual Fund Portfolios
• Bank Accounts - Use any Aggregator to fetch all bank accounts linked to the Mobile Number
• Post Office - Have to reach out to any post office and enquire on the Accounts/RD/FD etc linked to PAN
• FD - Check with each bank which you found in the aggregator

Apart from above there may be other assets, which you've to figure out through friends/family.

• Gold
• Real Estate

 

[azura]

• Bank Accounts - Use any Aggregator to fetch all bank accounts linked to the Mobile Number

Apart from above there may be other assets, which you've to figure out through friends/family.

• Gold
• Real Estate

@amitagl27 Aggregator? Is that a website? Example please?
Land/real estate assets are being sorted out with fathers side of relatives.(Since they were shared among siblings)

I have accessed his phone. Will carry out the steps one by one and make a list.

 

[theflash]

Aggregator?

Anumati-AA-version

app.anumati.co.in

Ig he's referring to this.

 

[amitagl27]

@amitagl27 Aggregator? Is that a website? Example please?
Land/real estate assets are being sorted out with fathers side of relatives.(Since they were shared among siblings)

I have accessed his phone. Will carry out the steps one by one and make a list.

There are so many, like Fold, Cred Money
Even bank apps started providing this facility e.g. ICICI has this facility, another example is Fi Money