Direct Answer: Deepak Wealth Framework helps individuals and families in Chennai get their financial assets — mutual funds, insurance policies, and bank-linked investments — estate-ready by reviewing and aligning nominations, beneficiary details, and holding patterns, and by factually explaining how wills, trusts, and succession rules fit into your overall plan. Drafting or executing a will, trust, or power of attorney is a legal function performed by a lawyer or Chartered Accountant, not by Deepak Wealth Framework.
📋 Key Facts
- A nominee on a mutual fund folio or insurance policy is not automatically the legal owner of that asset — under Indian law, the nominee typically holds the asset as a trustee for the legal heirs, unless a valid will says otherwise.
- Mandatory probate for wills made by Hindus, Buddhists, Sikhs, and Jains (under Section 213 of the Indian Succession Act, 1925) was repealed via the Repealing and Amending Act, 2025, simplifying how many wills are recognised without a mandatory court process.
- SEBI now allows up to 10 nominees per mutual fund folio or demat account, with a specified percentage or value for each, and has set 1 September 2026 as the deadline for existing single-holder folios to record a nomination or a formal opt-out.
- Deepak Wealth Framework reviews and helps update nomination and beneficiary details on your mutual fund and insurance holdings, but does not draft wills, set up trusts, or provide legal opinions — that requires a lawyer or Chartered Accountant.
- Services are available to individuals, families, and NRI clients globally holding Indian mutual fund and insurance assets.
Estate planning is often reduced to just having a will, but for most Indian families it starts much earlier — with whether your mutual fund folios, insurance policies, and bank accounts actually have the right nominee recorded, and whether that nomination matches what you actually want to happen. A will or trust then governs the legal distribution of your estate, but getting there usually needs a lawyer or Chartered Accountant for the drafting itself. Deepak Wealth Framework’s role sits on the financial side of this: reviewing your mutual fund and insurance holdings, correcting outdated or missing nominations, and explaining — factually, not as legal advice — how succession, nomination, and probate rules currently work in India.
What We Help With
Nomination & Beneficiary Review
Checking every mutual fund folio and insurance policy for a valid, up-to-date nominee, and helping you add or correct one where it’s missing or outdated.
Estate-Ready Portfolio Structuring
Reviewing single vs. joint holding patterns on investments so your family faces fewer hurdles accessing funds when needed.
Insurance-Linked Estate Cover
Making sure term life insurance proceeds are directed to the right beneficiary and sized to support your family’s needs as part of the wider estate picture.
Succession Rules, Explained Factually
Plain-language explanations of how nomination, intestate succession, and probate currently work in India, so you know what questions to bring to a lawyer.
Coordination with Legal Professionals
Working alongside your lawyer or Chartered Accountant once you’ve engaged one, so your mutual fund and insurance nominations stay consistent with your will or trust.
NRI Asset Coordination
Reviewing nomination and holding details on Indian mutual fund and insurance assets for NRI clients, so Indian-situs holdings are estate-ready alongside assets held abroad.
What Estate Planning Does — and Does Not — Cover Here
Estate planning gets sold as a single bundled legal service more often than it should. Here is what Deepak Wealth Framework directly handles versus what sits outside its scope, so expectations are clear from the start.
Included: Nomination & Beneficiary Reviews
Auditing and updating nominee details across mutual fund folios and insurance policies, and explaining how nomination differs from legal ownership.
Included: Factual Succession Guidance
Explaining, in plain language, how current nomination, intestate succession, and probate rules work in India — without providing legal opinions on your specific situation.
Not Included: Drafting Wills, Trusts & POA
Wills, trusts, and powers of attorney are legal instruments that must be drafted and executed by a lawyer or Chartered Accountant — Deepak Wealth Framework does not draft or notarise these documents.
Not Included: Property Title Transfer & Legal Disputes
Transferring title on immovable property, handling contested succession, or resolving family disputes over an estate requires a practising lawyer, not an MFD or insurance advisor.
How the Estate Planning Review Works
The process starts with a full audit of nominations across your existing mutual fund folios, insurance policies, and other financial holdings — checking for missing, outdated, or single-nominee setups that no longer match your wishes. Where SEBI’s updated rules allow multiple nominees with specified shares, we help you decide whether that structure suits your family. If you already have a will or trust, we cross-check that your nominations don’t conflict with it. If you don’t yet have one, we explain, factually, what a lawyer or Chartered Accountant would typically cover, so you go into that conversation informed.
Frequently Asked Questions
What is estate planning and why does it matter even if I’m not wealthy?
Estate planning means making sure your assets pass to the people you intend, with as little delay and dispute as possible. It matters at any asset level, since even a modest mutual fund folio or insurance policy without a valid nominee can cause real difficulty for a family after an unexpected event.
Is a nominee on my mutual fund the same as my legal heir?
Not necessarily. A nominee generally receives the asset as a trustee on behalf of the legal heirs, and does not automatically become the owner. A valid will overrides nomination when it comes to who is actually entitled to the asset.
Is probate compulsory for a will in India?
Mandatory probate under Section 213 of the Indian Succession Act, 1925 (which applied to wills made by Hindus, Buddhists, Sikhs, and Jains in certain cases) was repealed by the Repealing and Amending Act, 2025. Whether probate is still advisable in your specific case depends on the assets involved and is a question for a practising lawyer.
Can Deepak Wealth Framework draft my will or set up a trust for me?
No. Drafting and executing wills, trusts, and powers of attorney is a legal function that must be handled by a lawyer or Chartered Accountant. Deepak Wealth Framework can factually explain how these instruments generally work and coordinate your mutual fund and insurance nominations with whatever plan your lawyer puts in place.
How many nominees can I add to my mutual fund investments now?
SEBI now permits up to 10 nominees per mutual fund folio or demat account, each with a specified percentage or value share. Existing single-holder folios need to record a nomination or a formal opt-out by 1 September 2026.
Does Deepak Wealth Framework charge a separate fee for estate planning guidance?
No separate fee is charged for nomination and beneficiary reviews on Regular Plan mutual fund or insurance holdings. Compensation comes through the existing commission structure, disclosed upfront, as with other advisory services.
What should I bring to a lawyer once my nominations are in order?
A clear list of your mutual fund folios, insurance policies, bank accounts, and property, along with your intended beneficiaries for each, helps a lawyer draft a will or trust that is consistent with what you’ve already set up on the financial side.
Is Your Estate Actually Estate-Ready?
Talk to Deepak Gokul about reviewing your nominations, beneficiary details, and overall estate readiness.
Book a Free Consultation →