Accessing bank account of an incapacitated person isn't easy

An account holder should use the 'either or survivor' option or give power of attorney to critical members of the family

Recently, the Bombay High Court allowed a woman to operate the bank account of her husband who was in coma. As there is no legal provision in banking to deal with such a situation, the wife had no option but to approach the judiciary to be appointed her husband’s guardian.

Anyone can face a similar situation where the breadwinner is comatose, incapacitated, bedridden or is critical after an accident. “By following one simple step, an individual can give access to all financial accounts to his or her partner. An individual can opt for ‘either or survivor’ option,” says Malhar Majumder,