Redeeming or Transferring an Individual Account When Account Owner Passes Away

When verbal notification is received regarding the death of a shareholder, the general guideline and safeguard is to place a temporary "stop transfer" status on the account. This step is intended to minimize the risk of fraud until written notification and instruction for disposing of the assets is provided.

The legal representative of the account may redeem or transfer the account with the following documents:

  • Complete either the Redemption by Mail or Change of Ownership Form indicating how to direct the funds. An original Medallion guarantee is required. Please sign the form in capacity as the legal representative of the estate (e.g. John Smith, Executor).
  • Please contact your guarantor regarding the documentation required prior to submitting your signature.