What to do when a Carson account holder dies
Report the death to Carson at 1-888-321-0808
When an account holder at Carson passes away, the next step depends on how the investment accounts were set up. Accounts with beneficiary designations or trust ownership transfer outside of probate. Accounts titled solely in the deceased's name require the estate's legal representative to work with Carson (1-888-321-0808) to access and distribute the funds.
Death claim process
To file a claim after an account holder's death, here is what Carson requires:
Filing a claim
- A certified copy of the death certificate
- A copy of your government-issued photo ID
- Your authority document: the TOD or beneficiary claim form, the trust instrument or Certification of Trust, or Letters Testamentary or Letters of Administration
- The custodian's completed transfer or distribution forms, with any Medallion Signature Guarantee
Required Documents
- Certified copy of the death certificate
- Government-issued photo ID, for the beneficiary, successor trustee or personal representative
- Account statement or account numbersIdentifies the custodian holding each account.
- The custodian's TOD claim, beneficiary distribution election or transfer formsSupplied through the Carson advisor.
- Letters Testamentary or Letters of Administration, where there is no TOD registration, beneficiary designation or surviving owner, and no trustAn account with no beneficiary waits on the court appointment.
- Trust instrument or Certification of Trust, for a trust-titled accountShows the successor trustee's authority. The trustee's ID goes with it.
- Small estate affidavit, where the deceased person's state allows one and the estate qualifies
- Medallion Signature Guarantee, on the custodian's transfer forms, where required
- State inheritance tax waiver, where the deceased person's state requires one before securities are released
- The issuing insurer's death claim form and the policy number, for a variable annuity or variable life contract
What happens to each kind of account7
- Investment account
Managed, wrap and brokerage accounts are claimed from the custodian. The statement will name Charles Schwab & Co., Inc. or National Financial Services LLC (the Fidelity clearing entity), the two custodians CWM names in its Form ADV Part 1.1
Commission accounts are claimed through Cetera Wealth Services, LLC and its clearing firm, whose investor portal is NetXInvestor.2
An account with a TOD registration passes to the beneficiary outside probate, on the beneficiary's ID and the custodian's TOD claim form.2
- Joint account with survivorship
On a joint account with right of survivorship, the custodian takes a certified death certificate and reopens the account in the survivor's own name.2
- IRA
An IRA is claimed from the custodian on its inherited-IRA or beneficiary claim paperwork. The inherited IRA is usually opened at the same custodian.2
- Employer retirement plan
An employer 401(k) or 403(b) on Carson Powered by Vestwell is claimed from Vestwell as recordkeeper.2
- Annuity
The death benefit on a variable annuity or variable life contract is claimed from the issuing insurance company on its claim forms, not from Carson or the custodian.2
- Life insurance policy
The death benefit on a life or long-term care policy placed through the Carson Group Coaching insurance agency is claimed from the issuing carrier on its claim forms, not from Carson or the custodian.2
- Trust account
Where Carson Private Trust or BOK Financial Advisor Trust Services is trustee, notify that trust company, which administers the trust under its terms.2
Accounts handled elsewhere8
- Charles Schwab & Co., Inc.
Custody of Carson advisory accounts; it reviews the claim documents and releases the assets3, 1
- Fidelity Institutional Wealth Services (National Financial Services LLC)
Custody of Carson advisory accounts; it reviews the claim documents and releases the assets3, 1
- Cetera Wealth Services, LLC
Commission brokerage accounts of Carson advisors, with its clearing firm; formerly Cetera Advisor Networks4
- Flourish Financial LLC
Flourish Cash accounts; an unaffiliated Massachusetts Mutual subsidiary2
- Goldman Sachs
High-yield savings opened through the Goldman Sachs Intermediary Loan Program; absent from Carson statements2
- Vestwell
Recordkeeper for employer 401(k) and 403(b) plans on Carson Powered by Vestwell2
- Carson Private Trust (National Advisors Holdings, LLC)
Trusts for which it is trustee; it administers the trust under its terms2
- BOK Financial Advisor Trust Services
Trusts for which it is trustee; it administers the trust under its terms2
Help Carson offers survivors1
- Trust & Will probate service
CWM's brochure states that its Trust & Will agreement also covers "a probate service that prepares documents and educates clients on the probate process in their respective jurisdiction," with varying levels of support and access to attorneys.3
Who qualifies: Carson clients, under CWM's Trust & Will agreement
Not in Carson's published guidance2
- A procedure for reporting a death
- Terms in its agreements for a customer's death
Sources4
Set by the custodian, not by Carson. A TOD or IRA beneficiary claim at Fidelity or Schwab typically takes a few weeks.
Carson can be reached by phone at 1-888-321-0808 for questions throughout the claims process.
Sources
- carsonwealth.com
- carsongroup.com
- adviserinfo.sec.gov
- carson-webdev.s3.us-west-2.amazonaws.com
- cetera.com
- reports.adviserinfo.sec.gov
Data sourced from Carson primary sources (15 pages reviewed). How we research.
Carson death claims support
Phone
Mailing address
Website
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