Template Description

This template provides a standard format of a bank-issued certificate confirming the details of a joint bank account held by a deceased individual, and the subsequent legal heirship. The template is 1-page MS Word file and mandatory for legal heirs who need to comply with income tax return filings and other related legal requirements. The intended audience for this template includes legal heirs, banks, professionals, and entities.

Understanding the Certificate of Joint Account and Legal Heirship by Bank

Primary purposes of Certificate of Joint Account and Legal Heirship:

The Certificate of Joint Account and Legal Heirship is an official document issued by a bank that serves two primary purposes:

• Confirmation of Joint Account Details: It verifies that a specific bank account was held jointly by the deceased and another person (e.g., spouse or child). The certificate confirms the account's existence and the details of the joint holders.
• Legal Heirship Acknowledgment: It recognizes the person (usually a family member) who is legally entitled to manage or inherit the deceased's share of the account or any other assets.

Procedure of “How Certificate of Joint Account and Legal Heirship can be received?”:

Request for Issuance:

The legal heir (spouse/child of the deceased) must formally request the bank to issue a certificate confirming the details of the deceased’s joint account. This request is usually made in writing and must include relevant documents, such as the death certificate and proof of the heirship (e.g., succession certificate).

Bank Verification:

The bank verifies the submitted documents, including the death certificate and legal heir proof, to confirm the identity of the deceased and the legal heir. The bank also checks the account details to ensure accuracy in the information being certified.

Issuance of Certificate:

Upon successful verification, the bank issues the certificate on its official letterhead, confirming the account details and acknowledging the request made by the legal heir. The certificate includes the deceased’s account number, the name of the legal heir, and a statement that the certificate is issued at the heir’s request without any liability to the bank or its officials.

Usage of Certificate:

The legal heir uses this certificate to file income tax returns and fulfill other legal and compliance obligations. It is essential in processes such as claiming the deceased’s assets, managing joint accounts, and handling tax-related matters.

Conclusion

This template is a standardized format of the certificate of joint account and legal heirship and it is a vital document for legal heirs to establish their rights and fulfil their legal responsibilities after the death of a joint account holder. It provides a clear and formal acknowledgment from the bank, facilitating a smooth transition of financial obligations and compliance with legal requirements.