How to trace assets when you have no document trail?
Vishnu Chundi
Fintech entrepreneur! London Business School MBA! Masters in Nanotechnology, Cambridge University! ex-Bain and Company
If you have been named heir by your late relative or friend, and don’t know where to begin, I am sharing a few ways that can help.?
Without documents, it can be difficult but here's what you can do.?
CAS stands for consolidated account statement. This document offers a detailed view of the portfolio of the deceased person. It includes mutual fund transactions, and invest holdings – all in one place.?
With the CAS, you will get an overview of the wealth you stand to inherit. You can access these statements from their emails or if your benefactor has left any receipts or print outs of these statements.
2. Check for Bank Statements or Passbook
You can also trace investments through a bank passbook or bank statements in their email. If it’s someone older, there is a high likelihood they may maintain a passbook. Pro Tip: Some people may have multiple accounts in several banks, so be sure to check for all of them
3. Ask CAs or Lawyers
Check-in with your benefactor’s CAs or lawyers if they have access to any tax statements or any Wills that outline property details for you.?
Once you have access to these, you can submit a written request application to NSDL or CDSL or both for the transfer of assets to your name.?
If you found this helpful, I urge you to share this with your peers today so they are in the know too. If you want to know more about wills and inheritance, mail us at [email protected]