What to do when an Ally Invest account holder dies
Report the death to Ally Invest Securities at 1-855-880-2559
What happens to Ally Invest investment accounts after the account holder dies depends on how each account was titled. Beneficiary-designated and trust-owned accounts transfer directly. Accounts in the deceased's name alone go through the estate, and the executor or administrator works with Ally Invest Securities (1-855-880-2559) to claim the funds.
Death claim process
Follow these steps to file a death claim with Ally Invest:
Filing a claim
Required Documents
- Written notice of the deathFrom the estate's representative or the surviving joint owner, as the Customer Agreement (Section 28) requires.
- Death certificateA certified copy.
- Government-issued ID, for the beneficiary, executor or successor trustee
- Letters Testamentary or Letters of Administration, when there is no TOD beneficiary and no surviving joint owner
- State small estate affidavit, in place of court appointment, where state law allows it
- Estate taxpayer identification number (EIN), for an estate transfer
- Inheritance or estate tax waivers, if Ally Invest requires them for the deceased person's state
- Trust documentation and successor trustee certification, for a trust-titled account or a trust named as beneficiary
- Beneficiary (inherited) IRA paperwork, for an Ally Invest IRA
Claims Contact
Website: Online portal →
Forms Ally Invest issues1
- Account Transfer Form
Available to download.1
What happens to each kind of account2
- Payable-on-death account
With a certified death certificate and the beneficiary's government-issued ID, Apex moves the assets out of the TOD account into the beneficiary's account.2
- Investment account
To move the assets to another broker, the receiving firm submits an ACAT. Ally Invest's Account Transfer Form carries an "Estate" account type and a Medallion Signature Guarantee panel, and says a notary is not required.1
The form moves assets only between accounts of the same type (IRA to IRA, trust to trust), so the receiving account is opened in the matching registration first. A partial transfer lists the exact shares and symbol of every position and the cash amount; "all" or "total" voids it.1
Accounts handled elsewhere2
- Ally Bank
Ally Bank accounts; its estate instructions do not reach Ally Invest brokerage accounts3
Phone: 1-877-247-2559
- Apex Clearing Corporation
Clears Ally Invest brokerage assets and carries out the beneficiary transfer once Ally Invest accepts the documents2
Mailing address: One Dallas Center, 350 N. St. Paul, Suite 1300, Dallas, TX 75201
What Ally Invest's agreement and guidance say2
- Telling the institution
The representative of the estate or the surviving joint owner must give Ally Invest written notice of the death immediately. Until Ally Invest receives it, Ally Invest is not responsible for trades executed on standing orders.4
On a joint account, the deceased person's estate remains jointly and severally liable for any net debit balance or loss from transactions initiated before the written notice arrived.4
- What it does when notified
On notice of the death, all open orders on the account are canceled. Ally Invest may restrict transactions in the account and retain a portion of it while the claim is worked.4
Ally Invest may require papers and inheritance or estate tax waivers it deems advisable before releasing assets, and may close out the account without waiting for a personal representative to be appointed.4
Not in Ally Invest's published guidance1
- How long a claim takes
Ally Invest Securities can be reached by phone at 1-855-880-2559 and fax at 1-866-699-0563 for questions throughout the claims process.
Sources
Data sourced from Ally Invest primary sources (15 pages reviewed). How we research.
Ally Invest death claims support
Ally Invest Securities
Phone
Ally Bank Deposit Operations (bank accounts only)
Fax
Hours
Mailing address
Website
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