Nomination and joint holding are two of the simplest ways of identifying beneficiaries for investments. As far as possible, you need make sure that the beneficiary is someone whose needs will be taken care of by the specific investment in the future. It would be good if you maintain a list of your investments and kept track of the nominations you have made. Informing the nominees that they have been made beneficiaries is also a good exercise since the purpose of making smooth transition will otherwise be lost.
Demat account nominee rule update: SEBI on September 26 extended the deadline for existing demat account holders to provide choice of nomination by another three months to December 31, 2023. Further, the regulator has also changed the nomination rule for trading accounts. All you need to know
Investors in India have until September 30 to nominate a beneficiary or opt out, or their demat accounts and folios will be frozen. Failure to meet the deadline will result in frozen folios for debits and inaccessible demat accounts or mutual funds folios.