Since there needs to be a family or business relationship between two people attempting to open a joint bank account, and there is no legally recognised document that can establish the legitimacy of a gay marriage in India, couples have to keep their bank accounts separate. Your session has expired, please login again. While non-relatives can legally be nominees in financial products like mutual funds, a nominee only holds the property in trust for the legal heir. Financial Challenges The financial system in India recognises and rewards heterosexual families in various ways, but not homosexual partnerships. LGBTQ stands for lesbian, gay, bisexual, transgender and queer, and refers to sexual minorities in their multiple variants. The judgment also found the antiquated Section of the Indian Penal Code to be unconstitutional in so far as it criminalized sexual minorities. We need financial planners and chartered accountants CAs who understand LGBT issues and can advise us properly on these matters," said Samudra. Apart from formal legal barriers, cultural and institutional acceptance is also important.
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