How can my heir(s) claim stake to my assets if the will is lost after death?
In the absence of a will, a succession certificate becomes the primary document through which your heir(s) can claim stake in your moveable assets. This document gives your family the authority to transfer assets like accumulated wealth, shares and bonds in their names after you. For immovable properties, a probate is needed instead of a succession certificate.
How can they obtain a succession certificate?
To obtain a succession certificate, your heir(s) will have to apply to the high court. High courts have a separate department to issue these. The court charges two to four per cent (varies across states) of the value of the estate or a maximum of Rs 75,000 as fee. Usually, it takes four to six months to get a succession certificate
