The question is not clear but the prevalent practice is that only Individuals can be nominees and they usually are close family members. Im not sure if non individuals are allowed to be nominees..
If the beneficiary/ nominee is minor or Mentally or Physically challenged, a trust can be appointed as nominee/ appointee to get the funds after the demise of investor & hold the same for the benefit of minor.....
The question is whether Trusts, Charitable/Non-Charitable/Educarional/Religious Institutions/Temples/NGOs/Clubs and other such bodies can be appointed as Nominees by the Investor (similar to Will)
3 comments:
The question is not clear but the prevalent practice is that only Individuals can be nominees and they usually are close family members. Im not sure if non individuals are allowed to be nominees..
If the beneficiary/ nominee is minor or Mentally or Physically challenged, a trust can be appointed as nominee/ appointee to get the funds after the demise of investor & hold the same for the benefit of minor.....
The question is whether Trusts, Charitable/Non-Charitable/Educarional/Religious Institutions/Temples/NGOs/Clubs and other such bodies can be appointed as Nominees by the Investor (similar to Will)
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