Anju GandhiAs a part of my initial client meetings, I always enquire if proper nomination is made in all their bank accounts, investments, insurance policies and properties. If not done at all or if not updated, I stress upon the need, as well as the reasons, to do it.A nominee does not become the owner upon the demise of the owner of the asset. However, nomination has its benefits, if done properly. Let us start with discussing the meaning of these terms: Nomination and Nominee.Close Meaning of nomination and nominee related news Recent dividends of mutual munds (MF) in India Dividend mutual funds: Advantages, types, how it works How NRIs can manage property and money matters in India Nomination means an appointment or designation of a person to fill an office or discharge a duty. Nominee means a person who has been nominated or proposed for an office. It is used sometimes to signify an agent or trustee.Rationale behind nominationThe provisions regarding nomination are made … [Read more...] about Viewpoint | Does a nominee become a successor by default?