Frequently Faced Challenges

Section II - Reconstructing financial records of a dead or incapacitated person

There have been many cases recently where the main person handling the financial records was suddenly incapacitated or died. If the person had not shared financial records with family, then trying to find out the exact financial status becomes a big task.

It can however be done by the deceased person’s close relative (parent, spouse or children) by accessing the mobile phone, email and income tax e filing website, and other financial records.

A small check list of things that can be done is given below: –

  • The deceased’s SEBI Registered Investment Advisor can be best source of his financial data. A fiduciary usually maintains all the financial information about his /her client.
  • Bank account details can be obtained from his tax consultant / income tax returns filed by the deceased person which can be further corroborated through details obtained from the employer, if any.
  • His / Her insurance agent may be able to provide details of existing insurance policies. Else you may be able to find the name of the Insurance company by analyzing the payment history in the bank account(s). Concerned Insurance company may be able to help on getting details of the client policies with his name, date of birth, pan number and date and amount of payment of premium.
  • The search functionality on the mobile sms application for the term “Insurance premium” can be used to glean details of the insurance policies. With different terms the search on the mobile sms messaging app can be a rich source of data about the financial assets and liabilities of the person.
  • You can search for the term “Your NSDL CAS” or an email from in the deceased person’s email accounts. That should provide you the details of all dematted securities as well as mutual fund holdings in the name of the deceased persons including those held jointly with other persons
  • Details of house properties and other investments can also be harvested from the Income tax returns filed by the deceased person.
  • Try this link to get access to the free credit report of the person so that you can get details of the outstanding loans of the deceased person.
  • His / her mutual fund distributor may also have specific information.

REMEMBER: Process must be done by close relatives (parents, spouse, children) of the deceased. The external advisors should be used for advice alone.

Last updated on 21 August, 2021

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