What Is Nominee

By Abhishek katkar
What Is Nominee In Share Market

What Is Nominee

What Is Nominee In Share Market

In simple words Nomination is a process of giving your rights or , property or asset, any other financial instruments to a person which is belongs to you or close to you (family), after you or your death in future.

In share market if you register nominee then your shares will be given to your nominee person ( if that is one person ) or if they are multiple then it is distributed equally in them.

Whom Can You Nominee

You can nominee to any one from your family ( father, mother, brother, sister, your son or daughter ) or other peoples also who are close to you or who you thinks that they are able to take responsibility of your assets after you.

You can make nominee to multiple persons ( upto 3 ) but then you need to set or declare percentage for each person clearly in form otherwise it will equally distributed among in all.

What You Need To Do To Nominate Your Account

This is a simple process while you open your bank account or investing account there is section for nominations in which user needs to fill information about nominee like ( full name, relation with you , age, aadhar no (India) , Address , ) then you sign it and submit. This will done in same form. so you don't need do any thing different.

But if your account has been created already but still you have not declared nominee then also you can do it easily.now do it by filling separate nomination form only digitally and submit it now it is done .

This were not compulsory to bank account but now it is compulsory for investing accounts and but as responsible human you must nominate for your insurance policies, big bank deposits or shares in your account.

Advantages Of Nominating

  • Nominee can easily claim rights and get the benefits of assent after you.
  • You don't need to worry about future of family or closed ones like how it will be after you, so this is preparation for you to your family.
  • Nomination makes your asset distribution process simple and clear for nominee and to banks and insurance companies.

It is good thing to behave by being responsible person in your life for you and your family as well as for the systems to work healthy and to take most advantages of it. Because facilities are crated for humans.....!



Related Posts:

How to invest money for different time periods
How to do intraday trading smartly in less money
Intraday trading practical step by step process for biginners
How to find good stocks for investing
How you can avoid unnecessory losses in share market
Why you should start investing early in life

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