My mother is suffering from Alzheimer and not mentally fit.Its been decided between me and my elder brother verbally to take care of her yearly by keeping her custody.When she were in his custody,he nominated himself solely as nominee for her pension account.Now since she is with my custody from last 6 months,I were asking him portion of pension amount for her medical treatment reply to which he always say you can't get amount unless I will physically present in bank since I am nominee and I don't have time to come with you.
Is there any way to change nominee to include myself also ?
Can Nominee withdraw money for mentally retired person?
Hi
Thank you for asking this question
Answer to your first query is "Yes"
She can add you as a nominee(in addition to your brother) in the bank account and both of you can be joint nominees.
For the second query of yours
Answer-One thing is that the nominee gets charge of the money only if the account holder dies.According to me its NO.
Hope this will help you
Best regards
Akshay Gupta
