In India, fixed deposits (FDs) are a significant part of family savings, often established by grandparents. When these grandparents pass away without a will, complications can arise regarding the inheritance of these assets. According to the Hindu Succession Act, 1956, grandchildren are classified as Class 1 heirs, which means they have equal rights to the FDs alongside surviving children. Legal expert Varun Sriram emphasizes that while a nominee is designated when opening an FD, they merely act as a trustee and do not become the owner of the funds. If no nominee is appointed, legal heirs can still claim the deposits by providing necessary documentation to the bank. This situation highlights the importance of estate planning, including updated nominations and clear wills, to avoid administrative hurdles for future generations. A methodical approach to managing paperwork is essential to ensure smooth access to these funds.