What to do when a D.A. Davidson account holder dies

Completed by the executor, trustee or beneficiary, as the servicing advisor directs for each account type. Sent by the institution on request.¹

For a transfer-on-death account, the beneficiary presents a death certificate and government ID to claim the assets without probate.¹

For an account that goes through probate, the executor submits Letters Testamentary or Letters of Administration and the court documents.¹

An estate account may be opened if needed and requires an estate EIN. D.A. Davidson's checklist directs the executor to have the attorney apply for the federal EIN.^{1, 2}

On termination of an advisory program, "Program account assets will no longer be managed, and the account will be automatically converted to a custody only brokerage account at D.A. Davidson or its affiliate until the client transfers the assets to another provider or makes other arrangements."³

Trust and corporate-fiduciary accounts; its trust officers run the settlement where it is named trustee or executor¹

IRA and 403(b) accounts, as custodian of record; inherited-IRA paperwork runs through it¹

A free checklist for survivors, part of the Davidson Trust Educational Series, to work through after a death.²

Participation in a wrap fee advisory program "will automatically terminate upon notification to D.A. Davidson of client's death or the death of all authorized account holders (including trustees)," so the portfolio stops being managed once the firm is told.³

Any prepaid, unearned advisory fees are refunded, prorated by the days remaining in the billing period after the termination date.³

The estate account charge for "transfer of estate assets registered in client name, processing of death puts or survivor options" is $50.00 per issue and "may be higher based on transfer agent or custodian's fee." Transferring an account to another financial institution is $100.00.⁴