What to do when an Albert account holder dies
Report the death to Albert Customer Support at 1-844-891-9309
After an account holder at Albert dies, accounts with beneficiary designations or trust ownership transfer to the designated recipients without probate. Solely-owned accounts require the estate's representative to contact Albert Customer Support at 1-844-891-9309 with the proper legal authority documents.
Gather the account holder's full name, date of birth, and any known account or policy numbers before contacting Albert.
Death claim process
Follow these steps to file a death claim with Albert:
Filing a claim
- Emailing support@albert.com from an address where you can be reached; the ticket thread is the record
- Texting Albert at 639-37, the number named in the Deposit Account Agreement
- Using the in-app Help flow if you have lawful access to the deceased person's phone: profile tab, then the menu icon, then Help
- Calling (844) 891-9309, which Albert's contact article describes as a line to "listen to support options over the phone or leave a voicemail"
- The Albert Mobile App
- The Albert website
- Text at 639-37
- Email to support@albert.com
Required Documents
- Certified copy of the death certificate
- Letters Testamentary or Letters of Administration, naming you as personal representative
- Small-estate affidavit, for a small estate, where your state allows an affidavit in place of Letters
- Government-issued photo ID for the personal representativeSection 11: "for security purposes, you may be required to supply identification and address verification documentation prior to issuing a refund check."
- Address verification documentation, before Albert issues the refund check, if it asks
- The deceased person's account detailsName, account email, phone number and the last four digits of the card.
- A current mailing address for the estateThe closing balance is paid by check to the address on file.
- Written notice terminating the Albert Investments Portfolio Management Agreement, for the Investing accountSigned by the executor or other authorized representative.
What happens to each kind of account2
- Account in one name
Albert accounts are in one name only. The Deposit Account Agreement does not allow joint, organization, payable-on-death or in-trust-for titling, and the Albert Cash Account Agreement says "you do not have the ability to designate any beneficiaries." The balance is part of the estate.1, 2
- Investment account
The Investing account carries no transfer-on-death registration, so it passes through the estate.3
Albert "may require additional documents and reserve[s] the right to retain the assets in and/or restrict transactions in the Albert Investments Portfolio in our sole discretion."4
The estate stays jointly and severally liable for losses from transactions initiated before Albert had a reasonable time to act on the written notice.4
Accounts handled elsewhere5
What Albert's agreement and guidance say6
- Telling the institution
Section 5, "Death or Incapacitation": "You or your appointed party, designee, or appointed individual agree to notify us promptly if you die or become legally incapacitated."1
Albert "will continue to accept deposits and process transaction instructions into and from your Account" until it is "(a) notified of your death or adjudication of incompetency and (b) have a reasonable opportunity to act."1
- Payments after the death
"Even if we have knowledge of your death we may pay or process transactions on your Account on or before the date of death until we have the opportunity to action the account unless ordered to stop payment by someone claiming interest in the Account."1
- How proceeds are paid
Section 11 says "you must withdraw all funds before your account can be closed." On closure "you may be eligible to receive the unused balance, which will be returned to you via check sent to the mailing address we have in our records."1
"Allow fourteen (14) days for processing of the refund check. Your check will be mailed to you to the address on file after it is processed." Albert "reserve[s] the right to refuse to return any unused balance amount less than $1.00."1
- Powers of attorney
Section 6 says a power of attorney "will continue in force until a) we receive written revocation from the Principal; b) we receive written notification of the Principal's death; or c) we receive written notification of the death or incapacity of the Agent."1
Albert "may refuse to accept any forms of powers of attorney, however, with or without cause."1
- Dormant and unclaimed accounts
Section 12, "Account Dormancy and Escheatment": "We may transfer (escheat) your property to the appropriate state if no activity occurs in the account or you fail to communicate with us regarding your Account within the time period specified by state law."1
- Holds and legal process
Under "Legal Processes Affecting Accounts," Albert can refuse or limit withdrawals until a garnishment, levy or other legal process "is satisfied or dismissed," and may charge its legal expenses to the account.1
Albert says that "regardless of the terms of such garnishment, levy or other state or federal process, we have first claim to any and all funds in your Account," and that it will "not contest on your behalf any such Legal Process."1
Not in Albert's published guidance4
- A department for deceased-customer accounts
- A fax number for claim documents
- A mailing address for claim documents
- How long a claim takes
Albert Customer Support can be reached by phone at 1-844-891-9309 and email at support@albert.com for questions throughout the claims process.
Sources
Data sourced from Albert primary sources (15 pages reviewed). How we research.
Albert death claims support
Albert Customer Support
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