Union Bank of India Death Claim or Estate Form: A Detail Guide

After the death of someone you care about, it’s important to know what to do next. This form will help you ensure that everything goes smoothly with your loved one’s estate or that their final expenses and costs are covered by their life insurance policy.

if they had one, or something else like their home and belongings if they did not have a life insurance policy in place.

Note that this form is only necessary if the deceased person has an account with Union Bank. Other legal forms may be required in different situations; consult with an attorney when in doubt.

What is a Union Bank death estate or claim form?

A Union Bank death estate or claim form is a document that allows you to claim the assets of someone who has died. The form can be filed in order to receive any assets that were left behind, such as stocks, bonds and real estate.

If you are filing a claim against an estate, you may need to provide information about yourself, including your name and address, as well as how much money you are owed by the deceased person’s estate.

You will also need to provide information about their assets, including any accounts that were open in their name.

The amount of time it takes for your claim to be accepted depends on several factors, including how much money is in the account and whether there is a will or trust agreement that needs to be followed before distributions can be made from the account.

In most cases, if you are filing a claim against an estate for personal property items such as jewellery, it may take less than 30 days for your claim to be processed.

If you are filing a claim against an estate for cash or securities held by the deceased person’s bank account, it may take longer than 30 days for your claim to be processed because there are additional steps involved with liquidating.

Who can apply for a union bank death estate?

The following people may be eligible to claim an account:

  • You were named as a beneficiary in the will (if there is one).
  • A surviving spouse who was married to the deceased at the time of death.
  • A child born out of wedlock who was financially dependent on the deceased;
  • An individual appointed as personal representative by the court; and/or
  • An individual with a legal interest in the funds (for example, an individual with power of attorney).

Documents List

Death Claim Settlement in case Nomination is available

  • Application form (Download Below Link)
  • Death Certificate
  • Nominee ID Proof
  • Nominee Address Proof

Death Claim Settlement in case Nomination is not available and the amount is up to Rs. 5,000/

  • Estate Claim Form (Download Below Link)
  • Death Certificate
  • ID Proof of Claimant
  • Address Proof of Claimant
  • Declaration (Download Below Link)

Death Claim Settlement in case Nomination is not available and amount above Rs. 5,000/ and less than Rs. 50,000/-

  • Estate Claim Form
  • Death Certificate
  • ID Proof of Claimant
  • Address Proof of Claimant
  • Legal Heir Certificate(not mandatory) (Download Below Link)
  • Affidavit that deceased died intestate (Download Below Link)
  • Indemnity Bond (Download Below Link)

Death Claim Settlement in case Nomination is not available and amount above Rs. 50,000

  • Estate Claim Form (Download Below Link)
  • Death Certificate
  • ID Proof of Claimant
  • Address Proof of Claimant
  • Legal Heir Certificate
  • Affidavit that deceased died intestate (Download Below Link)
  • Indemnity Bond (Download Below Link)

Death Claim in case of Legal Representation

  • Estate Claim Form (Download Below Link)
  • Death Certificate
  • ID Proof of Claimant
  • Address Proof of Claimant
  • Legal Representation/Court Order

Process of Applying UBI Claim Death Form

In the event of a Union Bank death, there are certain steps that the estate administrator must follow in order to claim the funds. Below are the steps that should be taken in order to claim a Union Bank death estate:

  • Contact the bank immediately upon hearing about the death of your loved one.
  • You will need to submit a death certificate and other relevant documents as proof of identity before claiming any money from the estate account.
  • You will then be asked to provide proof of relationship with the deceased person as well as proof that you are an administrator of their estate (in case there is no will). This can be done by providing a certified copy of your birth certificate, marriage certificate, etc. and a death certificate from any country where your loved one was previously residing in.
  • If all documents have been submitted successfully, it should take up to 15 – 2 months before you receive your money back into your bank account.

Download Form

  • Affidavit that deceased died intestate – Download
  • Declaration to be obtained from respectable persons – Download

When do I need to apply?

The claim form needs to be completed within six months of a death, so it is important you contact Union Bank promptly. If you miss that deadline, then your options are much more limited.

However, even if you have missed that deadline, there may still be circumstances where a claim can be made on behalf of someone who has passed away. Contacting Union bank can help determine what course of action might be best for your situation.

What information do I need to Fill up this form?

The following information is required:

  • Full name and address of the deceased person (the ‘account holder’);
  • Full name and address of the executor or administrator;
  • Full name and address of any co-executors or co-administrators;
  • The date on which the account was opened; and
  • The date on which the death occurred.

FAQ

Why do I need to fill out a Union Bank death estate or claim form?

This is the most important document when it comes to claiming your insurance benefits from Union Bank. Without this form, you cannot claim anything from them, even if you are the beneficiary.

What Happens if I Do Not Fill Out This Form?

If you do not fill out this form, then you will not be able to access any money left in your relative’s account after his or her death.

However, if there are no other beneficiaries named on the account, then the bank will freeze it as soon as they know about his or her passing away and will not release any funds until they receive legal confirmation from a lawyer or court that there are no other claimants to the estate.

What is a Death Estate?

A death estate is a term used to describe the process of settling an estate after a person has died. The person who dies is referred to as the deceased, while the one left behind to manage the estate is known as the executor.

An executor has a duty to ensure that all debts and taxes are paid before distributing any assets among those entitled to them.

How do I know if I need to file a claim with Union Bank?

If you are named in the deceased’s will as an heir, beneficiary or nominated recipient of any Union Bank account, you will need to file a claim. If there is no will or you were not named in it, then you are not required by law to file a claim.

What happens if I just inherit some cash?

In this case, you will need to fill out a tax return with the IRS. You may have to pay taxes on the money you received, so it’s important to talk to an accountant before filing your return.

You may also be required to file a tax return if you inherited property that has appreciated in value since the date of death.

I don’t want my estate to be probated. What should I do?

If there is no will and there are no surviving family members or creditors who would benefit from your estate, then it may not need to go through probate court.

If there are no assets left behind after expenses are paid and debts are settled then most states allow bypassing probate court altogether by transferring ownership directly from one party (the deceased) to another (the inheritor).

This process is called “administration without administration” or “administration without probate”.

Final Words

It’s worth reading through this, just in case anyone you know passes away and leaves money in a Union Bank savings account (in which case this form would need to be completed). It’s not a long document, but it is informative.

Please don’t take my word for it. My request is to sit down, take a few minutes and go over the plan with your trusted financial adviser and/or your own bank. They will be able to help you answer most of the questions that I have not covered.

(This is only a review of the user experience. We do not take any responsibility if these posts cause problems for your and other things !!

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