What a Succession Certificate Does and When You Need One
A succession certificate is a court order that tells a bank, insurer, or government body who is legally entitled to collect a deceased person's debts and securities. It is not the same as a legal heir certificate, which only establishes family relationship. The succession certificate carries financial authority. You need one when the deceased left behind fixed deposits, savings accounts, shares, bonds, provident fund balances, or insurance payouts with no nominee listed, or when the nominee has died too. If a nominee is alive and named, the institution usually releases the amount directly. If there is a registered will, probate replaces this process in some states. The Indian Succession Act, 1925 governs succession certificates for most Indians outside the personal law systems that apply to Hindus in intestate property matters.
