What to do when a Hightower account holder dies
Contact Hightower's Hightower Trust Company, NA — 6-step process, 7 required documents, and 2-6 weeks after all documentation is received; timeline varies by custodian and account type
Hightower Advisors Main Office
Phone(312) 962-3800
Mailing Address
200 W Madison, 25th Floor, Suite 2500, Chicago, IL 60606
New York Office
WebsiteLearn more→
Hightower Trust Company, NA
Phone(917) 580-6041
Toll-Free(800) 894-6040
Fax(917) 591-4906
Mailing Address
Hightower Trust Company, NA, 300 Madison Avenue, 29th Floor, New York, NY 10017
WebsiteLearn more→
Death Claims (via Hightower Advisory Practice)
Phone(312) 962-3800
Mailing Address
200 W Madison, 25th Floor, Suite 2500, Chicago, IL 60606
Verified May 2026
What happens to Hightower 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 Hightower's Hightower Trust Company, NA ((312) 962-3800) to claim the funds.
To start, call Hightower at (312) 962-3800. Have the account holder's full name, account numbers, and a certified death certificate ready before you call.
Death claim process
The death claim process at Hightower works as follows:
Filing a claim
1
Notify your Hightower financial advisor or the advisory practice as soon as possible:
- Contact the specific advisory practice that managed the accounts
- Or call Hightower main office at (312) 962-3800 for assistance locating the right team
- Provide the deceased account holder's name and date of death
2
Your advisor will guide you through the custodian-specific claims process:
- The process varies by custodian (Schwab, Fidelity, Pershing, etc.)
- Your advisor coordinates with the custodian on your behalf
3
Gather and submit required documentation:
- Certified copy of the death certificate
- Government-issued identification for the beneficiary, executor, or trustee
- Letters Testamentary or Letters of Administration (if estate claim)
- Trust documents and trustee identification (if trust is beneficiary)
- Completed custodian-specific claim or transfer forms
4
The custodian reviews all documentation and processes the transfer of assets
5
Assets are distributed according to account titling and beneficiary designations:
- TOD accounts: assets transfer directly to named beneficiaries
- Joint WROS accounts: assets transfer to the surviving joint owner
- Trust-titled accounts: assets remain in trust under trustee management
- Retirement accounts: distributed per beneficiary designation, subject to IRS distribution rules
6
If Hightower Trust Company is serving as trustee, the trust administration team manages ongoing trust distributions and tax reporting
Required Documents
- Certified copy of the death certificate (typically 2-3 copies needed)
- Government-issued identification for the beneficiary, executor, or trustee
- Letters Testamentary or Letters of Administration (for estate claims)
- Trust documents and trustee identification (if trust is beneficiary or account owner)
- Completed custodian-specific transfer or claim forms (provided by your advisor)
- Beneficiary Social Security number and contact information
- Account statements or account numbers (if available)
Because Hightower Advisors uses third-party custodians to hold client assets, the death claim and estate settlement process is handled through the custodian with coordination from your Hightower advisor. Your advisor serves as your primary point of contact throughout the process. For accounts where Hightower Trust Company, NA serves as trustee, the trust administration team handles ongoing trust management, distributions to beneficiaries, and trust tax reporting. Retirement account distributions to beneficiaries are subject to IRS required minimum distribution rules based on beneficiary type (spouse, non-spouse, eligible designated beneficiary).
Processing timelines at Hightower: 2-6 weeks after all documentation is received; timeline varies by custodian and account type. Incomplete documentation is the most common cause of delays—submitting all required documents with the initial claim helps avoid additional processing time.
Hightower requires several documents to process a claim, including Certified copy of the death certificate (typically 2-3 copies needed), Government-issued identification for the beneficiary, executor, or trustee, and Letters Testamentary or Letters of Administration (for estate claims), and additional documentation depending on the account type. Certified copies are typically needed—photocopies are generally not accepted for death certificates or court documents.
Frequently asked questions
Contact the Hightower advisory practice that managed the accounts as soon as possible, or call the main office at (312) 962-3800 for assistance. Your advisor serves as your primary point of contact and will coordinate the estate settlement process with the account custodian (Schwab, Fidelity, or Pershing). You will need a certified copy of the death certificate, government-issued identification for the beneficiary or executor, and any applicable court documents such as Letters Testamentary. The timeline is typically 2-6 weeks after all documentation is received, though it varies by custodian.
Yes. Hightower Trust Company, NA can serve as corporate trustee, co-trustee, successor trustee, agent for trustee, or agent for executor. Many families name Hightower Trust Company as successor trustee so that professional trust administration is available if the original trustee becomes incapacitated or passes away. Your Hightower advisor can facilitate an introduction to the trust company team to discuss whether this arrangement fits your estate plan.
Hightower Advisors uses independent, third-party qualified custodians to hold client assets. The primary custodians include Charles Schwab, Fidelity, and Pershing. Each Hightower advisory practice may use one or more of these custodians, so beneficiary designation forms, trust retitling paperwork, and death claim procedures follow the process of the specific custodian holding the account. Ask your advisor which custodian holds your accounts before starting any estate-related paperwork.
Yes. A trust can be named as primary or contingent beneficiary on Traditional IRAs, Roth IRAs, and SEP IRAs held through Hightower advisory practices. However, naming a trust as beneficiary may affect the distribution timeline for inherited retirement assets under IRS required minimum distribution rules. The trust must meet certain IRS requirements (such as being irrevocable at death and having identifiable beneficiaries) for stretch distribution treatment. Consult a tax advisor before naming a trust as beneficiary on retirement accounts.
Both, in practice. Because Hightower Advisors does not custody client assets, the custodian (Charles Schwab, Fidelity, or Pershing) is the entity that legally releases funds or transfers accounts. The custodian sets the documentation requirements and the timeline. However, your Hightower advisor is the practical coordinator: send a copy of the death certificate, court letters, and trust documents to your advisor, and your advisor will submit the originals or certified copies to the custodian using the custodian-specific transfer forms. For accounts where Hightower Trust Company, NA serves as trustee, estate documents go to Hightower Trust Company directly because the trust company is the fiduciary.
Yes, in most cases. After the account holder's death, accounts transfer to the named beneficiaries, surviving joint owner, trust, or estate per the account titling. Beneficiaries who inherit assets at the same custodian typically have the option to continue with the same Hightower advisory practice that managed the deceased's accounts, open new accounts at that practice in their own name (or in the inherited IRA name), or move the assets to a different advisor or custodian. The advisory relationship is between the client and the Hightower practice; beneficiaries are not obligated to continue it. Each advisory practice may have its own minimum account size requirements that apply to the inheriting beneficiary.
Generally yes, until the account is closed, transferred, or retitled. Advisory fees at Hightower are typically charged as a percentage of assets under management, billed quarterly in advance or in arrears depending on the advisory practice. Fees continue to accrue on assets held in the deceased's name during the period between death and the completion of the transfer to beneficiaries — sometimes called the "fee tail." Some advisory practices waive or pro-rate fees during the settlement period; the policy varies by practice. The advisory agreement signed at account opening governs the fee structure. Executors and trustees should ask the Hightower advisory practice in writing how fees will be handled during the settlement period.
Hightower's Death Claims (via Hightower Advisory Practice) can be reached by phone at (312) 962-3800 for questions throughout the claims process.
When the deceased had multiple Hightower investment accounts, some may need separate claims while others can be handled together. The Hightower Trust Company, NA can clarify what's needed for each account type.
Hightower Advisors Main Office
Phone(312) 962-3800
Mailing Address
200 W Madison, 25th Floor, Suite 2500, Chicago, IL 60606
New York Office
WebsiteLearn more→
Hightower Trust Company, NA
Phone(917) 580-6041
Toll-Free(800) 894-6040
Fax(917) 591-4906
Mailing Address
Hightower Trust Company, NA, 300 Madison Avenue, 29th Floor, New York, NY 10017
WebsiteLearn more→
Death Claims (via Hightower Advisory Practice)
Phone(312) 962-3800
Mailing Address
200 W Madison, 25th Floor, Suite 2500, Chicago, IL 60606
Verified May 2026
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