Lightspeed
Subsidiary of Lightspeed Holdings, LLC (sole owner since October 31, 2025: Wedbush Financial Services, LLC)
lightspeed.comWhat to do when a Lightspeed account holder dies
Report the death to Lightspeed's Service Desk at 1-888-577-3123
What happens to Lightspeed 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 Lightspeed's Service Desk (1-646-393-4800 ext. 1) to claim the funds.
Death claim process
The death claim process at Lightspeed works as follows:
Filing a claim
- The capacity of the person signing (Administrator, Executor, or Survivor of the Estate)
- That the signer was well acquainted with the deceased during the deceased's lifetime, and the date of death
- That the decedent did not dwell or lodge in any state other than the named state for the greater part of any twelve consecutive months in the twenty-four months before death
- That the decedent did not, within one year before death, sign any formal instrument or will declaring residency in another state, and the state and year of the last federal income tax return filed
- The city and state where the securities were physically located at death
- That all prior legacies, debts, funeral expenses, taxes and administration expenses have been paid or amply provided for, so the shares in the decedent's name are free for transfer and distribution
- That if the transfer is an apparently uneven distribution, it has been equalized by the distribution of other securities or in some other manner
Required Documents
- Certified death certificate
- Affidavit of Domicile, sworn and subscribed before a notaryFrom the Lightspeed Document Center.
- Government-issued photo ID, for each beneficiary, executor or personal representative
- Letters Testamentary or Letters of Administration, when no TOD form and no survivorship registration is in place, and for a tenants-in-common owner's share
- State small-estate affidavit, in place of court letters, where the estate qualifies
- Account Transfer (ACAT) Form, with a copy of the most recent account statement, to move the positions to another brokerageWedbush Securities is the clearing firm on the form. Its Medallion Signature Stamp box, labeled "For WS Only", is stamped by Wedbush, not by the claimant.
- Estate/Conservatorship account application and estate EIN, to receive the positions in kind at LightspeedEstate/Conservatorship is an account type on the Lightspeed account application. It lets a personal representative receive the positions rather than liquidate them.
- Beneficial ownership form and updated corporate documents, to change the authorized signer on a corporate, LLC or partnership accountSent to newaccounts@lightspeed.com.
- W-8BEN, where a beneficiary is not a U.S. person
- Written request revoking any Limited Power of Attorney trading authorization, if a trading authorization is on file for the account
Forms Lightspeed issues2
- Affidavit of Domicile
Completed by the administrator, executor or survivor of the estate. Available to download. Must be notarized.1
- Account Transfer (ACAT) Form
Available to download.2
What happens to each kind of account6
- Payable-on-death account
On an account with a Transfer on Death Registration Form (0505C) on file, each named beneficiary sends a certified death certificate, the notarized Affidavit of Domicile and government-issued photo ID. No probate letters are needed for the TOD portion.3
- Joint account with survivorship
A Joint With Rights of Survivorship account passes to the surviving joint owner, on a certified death certificate and the Affidavit of Domicile.3
- Joint account without survivorship
On a Joint Tenants in Common account, the deceased owner's share passes through the estate, so probate letters are still required for that share.3
- Account in one name
With no TOD registration and no survivorship, the account needs Letters Testamentary or Letters of Administration from the probate court, or a state small-estate affidavit where the estate qualifies.3
- IRA
IRAs cannot be registered for TOD. The beneficiary designation on the IRA application decides who receives the account.3
- Investment account
If the account holder died holding a margin or portfolio margin position, the clearing broker may sell positions to cover the margin balance. A portfolio margin account is converted to Reg T after one day if the balance falls below the required $150,000.3
Accounts handled elsewhere2
- Wedbush Securities Inc.
Clearing and custody of equities and options accounts, and futures as futures commission merchant4, 5
Mailing address: Attn: Cashiering, P.O. Box 30014, Los Angeles, CA 90030 (courier: 1000 Wilshire Blvd., 8th Floor, Los Angeles, CA 90017, or 61 Broadway, 3rd Floor, New York, NY 10006)
- Interactive Brokers
Clearing and custody of accounts Lightspeed introduces to Interactive Brokers4
What Lightspeed's agreement and guidance say2
- Powers of attorney
Lightspeed's Limited Power of Attorney form says the authorization "is also a continuing one and shall remain in full force and effect until revoked by the customer by a written notice". The form states no ending at death, so the authorization is revoked in writing.6
- How proceeds are paid
Lightspeed does not accept third-party transfers: deposits must come from an account of the same title, and withdrawals by check go to the address of record. Cash cannot be wired to an estate account in a different name.3
Not in Lightspeed's published guidance2
- A procedure for reporting a death
- How long a claim takes
Lightspeed's Service Desk can be reached by phone at 1-888-577-3123, email at service@lightspeed.com, and fax at 1-646-393-4844 for questions throughout the claims process.
Sources
Data sourced from Lightspeed primary sources (21 pages reviewed). How we research.
Lightspeed death claims support
Service Desk
Toll-free
New Accounts (estate / trust / successor-entity accounts)
Account applications and completed paperwork
Cashiering (disbursements and transfers)
Fax
Mailing address
Website
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