Does your family know about your financial investments?

livemint.com:

Step 1:To start the process of transmission, the first step is to detail all the investments made by the deceased. For this, the process becomes very simple if you have a ready list. Otherwise, the survivors must have access to the deceased’s email address or phone number.

This is because OTPs are sent to the registered email address and phone number of investors on multiple occasions, and these can be used to track the investments.To obtain the details of the mutual fund holdings of the deceased across different fund houses, the legal heirs can generate a Consolidated Account Statement (CAS) through the website of any RTA. A CAS can help in creating a consolidated list of all mutual fund investments with fund and scheme names and also list out the folio numbers of each investment.Step 2:In addition to the details found in CAS, the process of transmission also requires some additional information, like the names of the primary holder, joint holder, and nominee for each investment, along with details of the linked bank account. In case the family is not aware of these details, they would need to be tracked.

For this, they can use the PAN card of the deceased along with the email address or phone number to individually visit the websites of each fund house in which the investments have been made and procure these details.There have also been instances where the families don’t have access to the email or phone number. In such cases, the process becomes longer. First, the family needs to visit the nearest CAMS or KFintech service centre.

They must carry the PAN card and death certificate of the deceased. They may also be required to furnish some proof that they are the legal nominees or survivors of the deceased. On visiting