Q.1: What is the easiest method to transmit all my wealth to my NRI daughter, after my death.Can I add joint name of NRI daughter in my financial assets. Presently I have only nominated my NRI daughter.

From your question it is assumed that you wish to transmit your wealth to your NRI daughter after your death. The easiest way to ensure a quick transmittal is to make sure that she is the nominee in all the assets. The institutions holding your financial assets will transfer those financial assets to your nominee provided she provides the forms and processes outlined here https://aria.org.in/1transfer-of-assets-on-death-of-the-holder/ . These are relatively easy processes to follow for the transfer. 

As far as adding your NRI daughter as a joint holder in your financial assets is concerned, that should be possible in assets that permit a joint holder to be included easily subsequent to the original opening of the account for example demat accounts, bank accounts.  for bank accounts the relevant RBI notification is given here https://www.rbi.org.in/commonman/English/Scripts/Notification.aspx?Id=1318


 For demat accounts it is doubtful if you can do that without earmarking the assets as Non resident ordinary accounts. See answer to question 17 of NSDL circular here https://www.nsdl.co.in/downloadables/faqonnris.pdf.

Please note that a joint holder (whether resident or non resident) cannot be added to a mutual fund unless the units are dematerialised first. 

Some of the points which should be kept in mind are as follows :

  • Nominee holds the assets in trust for the true legal heirs.
  • Nomination only eases the process of transfer of assets after death. It does not confer title on the nominee.
  • Only exception is the nominee of a life insurance policy who is the parent, spouse, or child of the policy holder
  • Every Individual should make a will specifying the beneficiaries for all their assets.
  • Nominations should match the beneficiaries under the will to avoid confusion.
  • Several online services are also available to generate a will.
  • Simple drafts are also available on the Internet.

For more details on advance preparation for death or disability for the main decision maker in a family, visit