How to find Lost|Forgotten or Scattered Investment-To find shares Missing and Blocked Investment, Unclaimed Dividend, lost shares, provident fund, Insurance, In-operative Bank account..
Here is why you must let some of your nearest family member know about your investments. One of the reasons is that you’d sure like to bequeath the money to whoever you decide, just in case you are not there. The data available in public domain reveals that in India, various investments (shares, insurance, mutual funds, small savings, inoperative bank accounts, demat account) worth Rs 3 lakh crore have either been only on paper or these lie unclaimed.
In most cases the deceased family was not aware of the financial investments owned by the person before his death. Something of the sort happened with Delhi-based Ganjinder Singh Parmar. He was not even out of grief after losing his father when he realized that it was almost impossible for him to inherit the properties and investment left by his father. Though his father had made a will, it took him almost a year to get probate of that will, since the properties and investment were spread across various states. Even after going through the probate in depth, it was realized that information about shares were not mentioned in probate.
Unclaimed investment
Sometime, an investor loses track of one’s investment because papers are lost, addresses were not changed, sudden death, theft at home, or due to memory loss. “In our country, most of us do not share various investment details with our spouse or other family person(s). Think of a situation when you are not there, how the family would be able to realize those investments,” says Vikash Jain, co-founder of Share Samadhan, India’s largest unclaimed investment recovery advisory entity.
What you can do
One should keep a record of investment whether on paper or in the electronic format. Someone in the family should be aware about all the investments made so that in case of exigencies, there is someone who can deal with those papers,” says Abhay. “One should also get the will executed to avoid any future litigation.”Blogger: How to find Lost|Forgotten or Scattered Investment-To find shares. - All posts
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