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Nominee Ya Legal Heir? Rahul Sundaram Clears India’s Biggest Confusion in Just One Video, Only on The Simple Hai!
In this Quick Takes episode on The Simple Hai! channel, Rahul Sundaram unpacks succession planning in India, nominee myths, wills, trusts & why every family must plan early.
Who gets your money after you’re gone? If you think it’s the person you wrote as your nominee, think again. In a special episode of Quick Takes (part of the Simple Hai! explainer series), IndiaLaw partner Rahul Sundaram joins Ashwathy Nair to explain succession planning, a topic most Indians avoid but everyone must understand. From court cases to forgotten wills, and misunderstood nominee rights to the emotional weight of inheritance, this conversation is full of real, relatable lessons for every Indian family.
Nominee vs Legal Heir: The Big Myth Busted
Most people believe that if you’ve listed someone as a nominee in your insurance or bank form, they automatically become the owner. Wrong.
Under Section 39 of the Insurance Act, a nominee is only a trustee; they hold the money temporarily but must pass it on to the legal heirs.
Even the Supreme Court has clarified this. So, if you want your money to go where you want it to, write a proper will. Also, make sure the nominee details match your will to avoid future fights.
Do Only the Rich Need a Will?
Absolutely not. As Rahul says, if you own:
- A small house
- A demat account
- A fixed deposit
- A shop, business, or insurance policy
You need a will. Otherwise, your assets will be divided based on religious personal laws, which may not reflect your wishes.
Even for middle-class families, not having a will can drag loved ones into courts, disputes, and long delays.
How to Write a Legally Valid Will in India
Writing a will in India is easier than most people think. No stamp paper. No lawyer and No registration needed.
Your will is valid if:
- You are of sound mind while writing it
- It’s signed by you
- It’s witnessed by two adults (not your heirs)
- It clearly says this is your final will
You can also:
- Record a video of yourself signing it
- Get a doctor’s certificate for mental fitness
- Take legal help if your situation is complicated
Common Mistakes That Can Ruin a Will
Even with good intent, many people mess up their will. Here are some mistakes to avoid:
- Not listing all assets, such as mutual funds or UPI wallets
- Not updating your will after major life events (marriage, birth, divorce)
- Ignoring the tax implications of inheritance
- Not informing your family where the will is kept
Each of these can cause huge stress to your loved ones.
What is a Trust? And When Should You Create One?
If you want more control over how your assets are used after your death, a trust might be better than a will.
A trust puts your assets in the hands of trustees, who manage them for your beneficiaries. It’s useful if:
- Your children are minors or depend on you
- You want to avoid probate delays
- You want to set conditions for when and how the money is used
It’s more secure and flexible in complex family or legal situations.
What Makes a Will Invalid?
If you’re not of sound mind while writing the will, the court can declare it invalid.
So if you have:
- A critical illness
- Mental health issues like dementia or schizophrenia
You should not delay writing your will.
Rahul Sundaram advises: Don’t wait for a bad diagnosis; plan your succession early.
For extra safety:
- Get a doctor’s certificate
- Record a video
- Keep updating your will as life changes
Why Succession Planning Is About More Than Just Money
At the heart of it, succession planning is peace of mind. It’s about ensuring your family doesn’t suffer financially or emotionally after you’re gone.
Rahul Sundaram’s advice is simple:
- Write your will
- Review your nominee details
- Speak to a legal advisor if needed
Whether you have INR 1 lakh or INR 10 crore, clarity is the best legacy you can leave behind.
Why You Can’t Ignore This Video
This isn’t just for the rich. This isn’t just for the old. This is for everyone who has worked hard, built something, and wants to protect their loved ones.
Watch this episode of Quick Takes on the Simple Hai! YouTube Channel, because if you don’t make these decisions now, the law will make them for you later.