Bank Account: If you have children. If you want to secure their future, then for that you must make them nominees in all your bank accounts, stocks and properties etc. So that your family doesn’t have to spread their hands in front of anyone later. If a person has to accumulate wealth, then it takes years to accumulate it.
Can make more than one nominee
Any person who happens to be He bequeaths his property to his family or his successor. He gives this property as inheritance. But you will make sure that you have the capital earned over the years. Whether it is in the right hands or not, then you are your property for it. You can make one nominee for that or you can make more than one nominee or it totally depends on you.
Nominee gets the property rights
Tell me if you make a nominee, then the investments you have made in your FD, RD, PPF, mutual funds, stocks etc. Your nominee gets that amount after you pass away. If you choose the wrong nominee, then your money is gone. He may be in danger. After someone passes away, the nominee is the custodian of his/her property. When the person passes away, then the nominee after that gets all the rights related to the property.
Only one nominee can be made in the bank account
Tell that you have different members of your family in FD, savings account, PPF etc. He can be made a nominee. Because these are schemes like insurance policies and mutual funds. There is also an option to make more than one person a nominee. Along with this, you can make more than one nominee in the shares you have invested in. However, only one nominee can be made in the bank accounts that are there.