What to do when an EP Wealth account holder dies
Report the death to EP Wealth at 1-877-590-5321
What happens to EP Wealth 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 EP Wealth (1-310-543-4559) to claim the funds.
Death claim process
Here is the step-by-step death claim process at EP Wealth:
Filing a claim
- Charles Schwab: notify online at notification.schwab.com with the deceased person's name and Social Security number, and upload the death certificate there
- Or call Schwab Estate Services at 1-877-566-2284 (Monday-Friday 8:30 a.m.-8:00 p.m. ET), which also supports callers outside the US
- Schwab says verification typically takes 5 business days and most transfers complete in a few weeks
- Fidelity: call 1-800-343-3548 for its guided three-step inheritance process
- Fidelity has separate paths for IRAs, workplace plans (401(k), 403(b), 457) and non-retirement accounts, including trusts, annuities, brokerage and cash management
- The custodian's name is on the deceased person's account statements and Forms 1099
- Under Form ADV Part 2A Item 15 the custodian sends statements at least quarterly, so a quarterly statement among the deceased person's papers identifies the custodian
Required Documents
- Certified death certificate
- Government-issued photo ID for the claimant, executor or successor trustee
- Letters Testamentary or Letters of Administration, for an account with no beneficiary, TOD registration or trust title
- Certificate of trust and the trustee's ID, for a trust-titled account, or where a trust is the beneficiary
- The trust document and the trust's EIN, where a trust is named beneficiary of an IRA or Solo 401(k)
- EIN for the trust or the estate, for an irrevocable trust taking the assets, or for an estate account
- The custodian's claim or inherited-account application and asset transfer formFrom Schwab or Fidelity.
- Medallion Signature Guarantee, on securities transfer paperwork, where the custodian requires itSchwab and Fidelity commonly require one. It is obtained at a bank or brokerage that takes part in a Medallion program; a notary is not a substitute.
- Inheritance tax waiver, where the deceased person's state requires one before securities can be released
Claims Contact
Website: Online portal →
What happens to each kind of account5
- Payable-on-death account
On a non-retirement account with a TOD registration, the named beneficiary opens an account at the same custodian and asks for the positions to be re-registered in kind.1
- IRA
The custodian pays the beneficiary named on its own beneficiary form. The beneficiary opens an inherited IRA at the custodian.1
- Employer retirement plan
For a Solo 401(k), the custodian pays the beneficiary named on its own beneficiary form.1
- Account in one name
An account with no beneficiary, no TOD and no trust title passes through the deceased person's estate. The executor opens an estate account at the custodian with the Letters and the estate's EIN.1
- Trust account
Where National Advisors Trust Company, FSB (doing business as EP Wealth Private Trust) is corporate trustee, it administers and distributes the trust assets under the trust's terms. EP Wealth is not the trustee.1
The trust company is independent of EP Wealth and works under its own service agreement with the trust; contact it through the EP Wealth advisor. EP Wealth keeps managing the investments if the trust retains the firm.1
Accounts handled elsewhere3
- Charles Schwab & Co., Inc. (Schwab Institutional)
Custody of EP Wealth client accounts; files the death claim through Estate Services2, 3
Phone: 1-877-566-2284
Hours: Monday-Friday 8:30 AM-8:00 PM ET
- Fidelity Brokerage Services LLC
Custody of EP Wealth client accounts; files the death claim through its inheritance process2, 4
Phone: 1-800-343-3548
- National Advisors Trust Company, FSB (EP Wealth Private Trust)
Trusts for which it serves as corporate trustee; reached through the EP Wealth advisor1
What EP Wealth provides to the estate1
- Statement copies
The EP Wealth advisor can produce statements, account registrations and cost-basis history for the estate.1
What EP Wealth's agreement and guidance say3
- What it does when notified
Form ADV Part 2A says: "As a firm, we do not have physical custody of any of your funds and/or securities." The custodian holds the beneficiary or TOD designation of record, issues the claim forms and releases the assets.2
After a death EP Wealth coordinates: it pulls statements and cost basis for the estate, works with the estate's attorney and CPA on the step-up in basis and the final returns, and helps beneficiaries decide what to do with the inherited assets.1
- What it says about taxes
Form ADV Part 2A sets the custodian's cost-basis defaults: average cost for mutual funds, tax optimization for equities and first in, first out for everything else, unless another method was elected in writing at or before account opening. The advisor can say which method the account was opened under.2
- Online access
EP Wealth's estate planning page says "digital copies of your estate planning documents can be stored in your EP Wealth Personal Financial website vault for ease of future access". The advisor can check the deceased person's vault for an executed will or trust.5
Sources5
Typically 2-4 weeks after the custodian has a complete, correctly signed package. The custodian sets it, not EP Wealth.
EP Wealth can be reached by phone at 1-877-590-5321, email at compliancedept@epwealth.com, and fax at 1-310-316-0401 for questions throughout the claims process.
Sources
Data sourced from EP Wealth primary sources (23 pages reviewed). How we research.
EP Wealth death claims support
Phone
Toll-free
Charles Schwab — Estate Services / Inheritance
Fidelity — Inheritance and transition services
Charles Schwab — Brokerage Services (general)
Fax
Mailing address
Website
Estate planning articles
Learn how to protect your EP Wealth accounts and other assets with trusts, beneficiary designations, and estate planning documents.
Is this your situation?
Get a complete guide for your specific circumstances.
Forms for Settling an Estate
Free forms for settling an estate: the probate petition, small estate affidavit, notice to creditors, inventory, and closing forms.
Digital Assets Recovery Letter
Prepare a letter requesting a deceased person's online accounts, points, and balances from the program that holds them.
Petition for Probate and Letters
Open probate and ask the court to appoint you and issue Letters Testamentary or Letters of Administration.
Notice to Creditors
Notify estate creditors and start the claim period — the published notice plus mailed copies for known creditors.
Renunciation of Executor
Decline an appointment as executor named in a will — the writing filed with the court before anyone is appointed.
Affidavit of Heirship
Prepare the sworn statement of a deceased person's family history and heirs for recording in the county land records, with your state's recording instructions.
Small Estate Affidavit
Collect a small estate's property without probate — the sworn affidavit presented to banks and other holders, with a presentation letter for each.
Tools for Settling an Estate
Free tools for settling an estate: whether probate is needed, executor and trustee pay, creditor deadlines, and inheritance taxes.
How Many Death Certificates Do I Need?
Calculate how many certified death certificates you need and see ordering info for your state.
Do I Need Probate?
Find out if an estate needs probate or qualifies for simplified procedures.
Do I Have to File Tax Returns for Someone Who Died?
Find out which tax returns need to be filed after someone dies and whether tax clearance is required.
How Do I Settle an Estate?
Personalized plan for settling an estate after someone passes away.
What Do I Do When Someone Dies?
A step-by-step checklist for the days, weeks, and months after a death, with state rules noted where they apply.
How Much Are Estate & Inheritance Taxes?
Calculate federal estate tax, state estate tax, and inheritance tax for an estate.
