Will executed and probated abroad.

Querist : Anonymous (Querist) 28 July 2011 This query is : Resolved
A person of Indian Origin, having US citizensship,maintained NRE account with a bank and held shares in a major Public Limited Company in India. The POI/NRI died abroad and had a will executed and probated in the US.

The wife/widow of the NRI/POI wishes to approach the Bank/company in India for payment of balance/transmission of shares to her name as beneficiary of the will.

I request worthy experts to advise me what procedure is required to be followed in both cases?

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Devajyoti Barman (Expert) 28 July 2011
Not much, only the concerned Bank or the Institution needs to be approached.
It should disburse the amount or the shares on the basis of Probate as well on execution of indemnity bond by the wife.

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