Provident Fund cannot be blocked by a family member during the life span of the PF account holder. However, after his/her death, those family members who are legal heirs, can claim right in his/her property.
Raj Lakhotia, Founder, Dilsewill answers queries on estate planning and succession laws from the readers.
My father is having an extra-marital affair and bears all her expenses. We have bought a house on loan. How can we claim a share in his PF or block it so that, after retirement, we can clear the loan as my dad is unlikely to do so? – Seema Sharma
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Adequate maintenance can be claimed by your mother under Section 125 of the Criminal Procedure Code. The Provident Fund cannot be blocked by the family member during the life span of the PF account holder. However, after the death of your father, your mother and you, being legal heirs, can claim your right in his property.
I have a 15-year-old daughter and have some self-acquired property. I’m the only son and have two sisters, both of whom are employed and married, with their own houses. My father retired six years ago and has two self-acquired houses. My questions are as follows:
1. Can my daughter claim my father’s self-acquired property?
2. Can my daughter claim my selfacquired property or any inherited property from my father?
3. Can my daughter claim any portion of my savings?
4. Can my daughter claim any financial aid from me, be it in the form of property or money? – Vinay Ramdas
1. No. As per the succession laws in India, your daughter cannot claim the shares of her grandfather’s intestate properties during your lifetime.
2. After your death, as a legal heir, your daughter is legally entitled to claim a share in your self-acquired properties if you die intestate. She can also claim a share in inherited property if that has been absolutely vested with you.
3. No, your daughter cannot claim any portion of your savings during your lifetime. She can only claim as a legal heir after your death if you die without
a will.
4. She can claim maintenance from you until she becomes a major with reference to Section 125 of the Criminal Procedure Code.
If a person dies with more than Rs 50 lakh in demat and mutual funds, can these be redeemed and sold on intimation of death or does it continue to be in the market till the probated will is presented? Since getting a will probated takes 5-6 months, is the money at market risk during this period?-Suhas Singh
During the interim period (between death and granting of probate), the executor or administrator, or the nominee, can deal in securities for the benefit of the estate. If there is no executor, any beneficiary can apply for letter of administration and the permitted administrator can take care of the estate of the deceased, including such securities.
