The Kedarnath tragedy has killed thousands of devotees and death toll is likely to go up as thousands of people are still missing. The relatives of the missing persons are praying day and night for their near and dear ones to return but it is not clear for how many days would this operation will continue.
After the military operation ends, the state government needs to work hard to undertake restoration work in the valley. It is also true that hundreds of dead bodies are also lying there and needs to be identified. If possible, they needed to be handed over to the relatives of the deceased.
The major challenge before the Government is to identify the deceased person, but the recent news tells that Government is going ahead with mass funeral next week. Looking at the present conditions, in many cases either it will not be possible to identify the person or still there will be hundreds of dead bodies which will not be traceable.
In the eyes of law, a person will not be declared dead until his/her body is recovered. What will happen to their finances in the absence of valid death certificate is also a major concern for the remaining family members.
They will neither be allowed to claim the money lying in the bank account nor will insurance company or mutual fund house will pay them unless they provide copy of death certificate.
The life of legal heirs is also likely to be majorly affected financially if the problem is not addressed immediately. Legal heirs might have to also struggle for day- to-day expenses even though they have sufficient money and investment in the name of missing person.
If the dead body is not found then what to do to claim the money and investment of missing person requires immediate attention and people should know the provisions of the law in this regard. Those who are dead are unlikely to come back but we should also seriously think about the problems which living family members have to face for their survival.
As per section 108 of the Indian Evidence Act 1872 "Person is presumed to be dead who is unheard of for more than seven years by those who would naturally have heard of him/her if he/she had been alive".
It means in the absence of valid death certificate family members will not be able to even touch the money and investment for another minimum seven years. The procedure is also long.
First family members have to file a missing complaint with local police and after completion of seven years they have to approach appropriate court for the necessary order stating the missing person is presumed to be dead.
What time court will take is also not clear, means delay of another six months to one year time to claim the money. The Government has to seriously think about this real life problem and have to review the provisions and reduce the time required for declaring missing person dead particularly in case of natural calamities like what happened in Kedarnath valley recently.
There is also another one possibility if the State Government takes this seriously and acts immediately. Section 10 of Registration of Births and Deaths Act' 1969 gives power to State Government to appoint any person on their behalf to notify birth or death or both which occurred in such areas as may be prescribed.
A positive step by Uttarakhand Government can solve many problems and give hope to many families who have lost their bread earner. If the death of missing person is notified by the State Government, then on the basis of that it is possible to apply for and get the death certificate.
Whether this will happen or not; nobody knows. But it has highlighted the basic thing that we have to plan for our finances so that in case of unfortunate event; our loved ones do have to struggle financially in their life. It is important to open a bank account in joint name with either and survivor basis and also advisable to invest jointly with either and survivor basis.
We have also to nominate one or two of the family members in all investments wherever such facility available. It is also important to execute a will in favour of loved ones so that there is no confusion thereafter.
Till you get the death certificate, pay the life insurance premium to continue the policy as non payment of premium in time will lapse the policy. It is also possible to claim the money, if the amount is small, on the basis of indemnity bond filed with the concerned authority, if they agree do so.
I also request all the three regulators, the Reserve Bank of India (RBI), Insurance Regulatory Development Authority (IRDA) and Securities and Exchange Board of India (SEBI) to do the needful in this regard so that legal heirs can easily get the money back and move forward in their life.
Thursday 27 June 2013
http://www.moneycontrol.com/news/others/7-yr-norm-to-declare-missing-person-dead-must-be-relaxed_906681.html
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