What to do when a Lightspeed account holder dies
Contact Lightspeed — 8-step process, 8 required documents, and lightspeed publishes no estate timeline. expect two review cycles rather than one: lightspeed reviews the package, then the clearing broker that custodies the account (wedbush securities or interactive brokers) applies its own transfer requirements before assets move.
Lightspeed Service Desk / Relationship Management
Phone1-646-393-4800
Toll-Free1-888-577-3123
Fax1-646-393-4844
Mailing Address
Lightspeed Financial Services Group, 20 Headquarters Plaza, North Tower, 7th Floor, Morristown, NJ 07960
Service Desk
Cashiering Department
Toll-free (1-888-LSPD-123)
WebsiteLearn more→
Lightspeed Service Desk / Relationship Management
Phone1-646-393-4800
Toll-Free1-888-577-3123
Fax1-646-393-4844
Mailing Address
Lightspeed Financial Services Group, 20 Headquarters Plaza, North Tower, 7th Floor, Morristown, NJ 07960
Service Desk
Cashiering Department
Toll-free (1-888-LSPD-123)
WebsiteLearn more→
Service Desk (no dedicated estate unit; estate accounts handled by New Accounts)
Toll-Free1-888-577-3123
Fax1-646-393-4844
Mailing Address
Lightspeed Financial Services Group, Attn: Service Desk, 20 Headquarters Plaza, North Tower, 7th Floor, Morristown, NJ 07960
New Accounts (estate / trust / successor-entity accounts) - newaccounts@lightspeed.com
Cashiering (disbursements and transfers) - cashiering@lightspeed.com
WebsiteNotify online→
Verified Jul 2026
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 (no dedicated estate unit; estate accounts handled by New Accounts) (1-646-393-4800 ext. 1) to claim the funds.
Lightspeed offers an online claims portal that makes the initial filing process more straightforward. Survivors can also initiate claims by phone or by mailing documentation directly.
Death claim process
The death claim process at Lightspeed works as follows:
Filing a claim
1
Notify the Lightspeed service desk at 1-888-577-3123 (domestic) or 1-646-393-4800 ext. 1, or email service@lightspeed.com, with the account number and the deceased account holder's name. There is no dedicated estate or bereavement unit and no branch to visit; the service desk is the entry point.
2
Ask Lightspeed to restrict trading on the account. Any Limited Power of Attorney on file terminates at death, so an agent who was trading the account has no authority from the moment of death forward.
3
Download and complete the Affidavit of Domicile from the Document Center. It must be sworn before a notary and states, under oath:
- The capacity of the person signing (administrator, executor, or survivor)
- The decedent's date of death and the state the decedent dwelled in, including that the decedent did not lodge in any other state for the greater part of any twelve consecutive months in the twenty-four months before death
- That the decedent did not, within a year of death, execute any instrument or will declaring residency in another state, and the state in which the decedent filed the last federal income tax return
- The city and state where the securities were physically located at death
- That all prior legacies, debts, funeral expenses, inheritance and transfer taxes, and administration expenses have been paid or amply provided for, so the shares are free for transfer
4
Assemble the rest of the estate package. What is required depends on how the account was registered:
- TOD account (form 0505C on file): certified death certificate, notarized Affidavit of Domicile, and government-issued photo ID for each named beneficiary. No probate letters are needed for the TOD portion.
- Joint With Rights of Survivorship: certified death certificate and Affidavit of Domicile; the account passes to the surviving joint owner.
- Joint Tenants in Common: the decedent's fractional share passes through the estate, so probate letters are still required for that half.
- No TOD and no survivorship: Letters Testamentary or Letters of Administration from the probate court, or a state small-estate affidavit where the estate qualifies.
- IRA: IRAs are not TOD-eligible; settlement runs off the IRA beneficiary designation on the IRA application. Non-U.S. beneficiaries also file a W-8BEN.
5
Send the package to Lightspeed by fax to 1-646-393-4844 or email to service@lightspeed.com, and mail originals if requested to Lightspeed Financial Services Group, 20 Headquarters Plaza, North Tower, 7th Floor, Morristown, NJ 07960.
6
Understand where the assets actually sit. Lightspeed introduces accounts on a fully disclosed basis and does not custody them; clearing and custody are performed by the clearing brokers, so Lightspeed passes the estate package through to whichever one carries the account:
- Equities and options: Wedbush Securities Inc., 225 S. Lake Ave., Penthouse, Pasadena, CA 91101. Wedbush is the transferring party and its estate-transfer requirements control.
- Futures: Wedbush Securities Inc. as the futures commission merchant.
- Accounts introduced to Interactive Brokers: settled through the Interactive Brokers clearing relationship.
7
Decide how the assets come out, and open the receiving account first:
- A personal representative can open a Lightspeed Estate/Conservatorship account (an account type on the Lightspeed new-account application) to receive the positions in kind rather than liquidating them.
- A beneficiary or estate moving the positions to another brokerage uses the Account Transfer (ACAT) Form. Wedbush Securities is the clearing firm on that form (clearing number 0103); the Medallion Signature Stamp box on it is marked "For WS Only" and is stamped by Wedbush, not by the claimant.
8
Margin positions are settled before anything is distributed. If the decedent died holding a margin or portfolio margin position, the clearing broker may liquidate positions to satisfy the margin balance; the estate cannot simply take the account over as-is.
Required Documents
- Certified death certificate
- Affidavit of Domicile, notarized (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
- State small-estate affidavit, where the estate qualifies under state law
- Account Transfer (ACAT) Form, to move the positions to another brokerage
- Estate/Conservatorship new-account application and estate EIN, to receive the positions in kind at Lightspeed
- W-8BEN, where a beneficiary is not a U.S. person
What to know at this institution
The single most important fact about a Lightspeed death claim is that Lightspeed does not hold the assets. Per its FY2025 SEC Form X-17A-5, Lightspeed conducts business on a fully disclosed basis with Wedbush Securities Inc. and Interactive Brokers, and "the clearing and custodial operations for the Company's customer accounts are performed by the Clearing Brokers." Wedbush is also the majority owner of Lightspeed's parent, Lightspeed Holdings, LLC. Every estate-facing artifact points the same way: the Transfer on Death Registration Form is addressed to "Clearing Agent - Wedbush Securities Inc.", the Account Transfer form is a Wedbush form (clearing number 0103) with a Medallion Signature Stamp box reserved for Wedbush use, and incoming wires are payable to Wedbush Securities Inc., 225 S. Lake Ave., Penthouse, Pasadena, CA 91101. Wedbush also provides the excess SIPC coverage on Lightspeed accounts (up to $25,500,000 per account, including a Lloyd's of London excess-SIPC bond) — coverage that follows the account into the estate. There is no dedicated estate department: the service desk (1-888-577-3123 / 1-646-393-4800 ext. 1, service@lightspeed.com, fax 1-646-393-4844) is the only claims channel, with new accounts (newaccounts@lightspeed.com) handling an estate or successor-entity account and cashiering (ext. 6, cashiering@lightspeed.com) handling the money movement. Offices: Morristown, NJ (20 Headquarters Plaza, North Tower, 7th Floor, Morristown, NJ 07960) and Chicago, IL (181 West Madison Street, Suite 2950, Chicago, IL 60602); neither is a retail branch.
Prepare your letter of instruction to Lightspeed
Lightspeed asks for a letter of instruction alongside its claim form. We prepare a transmittal cover letter and the enclosure checklist Lightspeed requires.
Build your letter of instructionExpected timelines at Lightspeed: Lightspeed publishes no estate timeline. Expect two review cycles rather than one: Lightspeed reviews the package, then the clearing broker that custodies the account (Wedbush Securities or Interactive Brokers) applies its own transfer requirements before assets move. Delays are almost always caused by incomplete paperwork—gathering all required documents before filing the initial claim helps avoid back-and-forth.
Lightspeed requires several documents to process a claim, including Certified death certificate, Affidavit of Domicile, notarized (Lightspeed Document Center), and Government-issued photo ID for each beneficiary, executor, or personal representative, 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
No. The Lightspeed Transfer on Death Registration Form (form 0505C) is signed by the account holder and accepted by the broker-dealer; it has no Medallion Signature Guarantee box and no notary block. What it does require is a spousal signature: if you are married and domiciled in Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, or Wisconsin and your spouse is not a named beneficiary, section 2(b) requires your spouse to sign, waiving community property rights in the account. The Medallion stamp that does appear in Lightspeed paperwork is on the Account Transfer (ACAT) Form, and it is labeled "For WS Only" - Wedbush Securities affixes it as the clearing firm. Separately, the Affidavit of Domicile that Lightspeed asks an executor to file at death does have to be sworn before a notary.
Section 6 of the Lightspeed Transfer on Death Registration Form lists the ineligible assets and accounts outright: annuities (variable and fixed), life insurance, limited partnerships, IRAs and other retirement accounts, futures, precious metals (certificated and physical), open-end mutual funds held at the fund, and RVP/DVP accounts. The practical consequences for an active trader: your IRA cannot be TOD-registered - it passes on the beneficiary designation you made on the IRA application, so check it separately - and a futures position cannot be TOD-registered even though your equities in the same household can be. Corporate and LLC accounts have no TOD path either; those pass under the entity's governing documents, and Lightspeed requires an updated beneficial ownership form plus corporate documents (newaccounts@lightspeed.com) to change the authorized signer after a death.
The form is written to conform to the California TOD Act and, in section 5, states that the agreement is governed by California law and that Lightspeed and its clearing agent have the protections of that Act. It goes further: if TOD registration is not permitted in the state where you are domiciled at death, Lightspeed and its clearing agent may - absent notice from a duly appointed executor or administrator - still distribute the securities to the beneficiaries you named. The account holder also agrees to indemnify Lightspeed and the clearing agent against any claim brought by the estate. Section 4 adds that the designation is not subject to probate rules that would sweep in after-born children, add a later spouse, remove an ex-spouse after divorce, or pass a deceased beneficiary's share to that beneficiary's children. In plain terms: the form does exactly what it says and nothing more. Marriage, divorce, a new child, or the death of a beneficiary will not update it for you. Section 3 requires any change to be made in writing by the account holder personally, and no agent, attorney-in-fact, or guardian may change it without your express written permission or a court order - so review the form after every family change.
Yes on the first point: "Estate/Conservatorship" is an account type on the Lightspeed new-account application, so a personal representative with Letters Testamentary, an estate EIN, and photo ID can open an estate account and receive the decedent's positions in kind (contact New Accounts at newaccounts@lightspeed.com). Margin is the harder problem. Lightspeed is a day-trading platform, so a decedent is far more likely than the average investor to die holding leveraged positions, and those do not transfer intact. The clearing broker can liquidate positions to satisfy the margin balance before anything is distributed, and any successor account must re-qualify for margin on its own - a portfolio margin account requires a $175,000 minimum deposit and a $150,000 minimum maintenance balance, and the estate has to satisfy that or close out. A Limited Power of Attorney on the account does not help: it terminates at death, so whoever was trading the account under an LPOA loses authority immediately. Notify the service desk the day you learn of the death and ask them to restrict trading.
Lightspeed's Service Desk (no dedicated estate unit; estate accounts handled by New Accounts) 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.
When the deceased had multiple Lightspeed investment accounts, some may need separate claims while others can be handled together. The Service Desk (no dedicated estate unit; estate accounts handled by New Accounts) can clarify what's needed for each account type.
Sources
Data sourced from Lightspeed primary sources (20 pages reviewed). How we research.
Lightspeed Service Desk / Relationship Management
Phone1-646-393-4800
Toll-Free1-888-577-3123
Fax1-646-393-4844
Mailing Address
Lightspeed Financial Services Group, 20 Headquarters Plaza, North Tower, 7th Floor, Morristown, NJ 07960
Service Desk
Cashiering Department
Toll-free (1-888-LSPD-123)
WebsiteLearn more→
Lightspeed Service Desk / Relationship Management
Phone1-646-393-4800
Toll-Free1-888-577-3123
Fax1-646-393-4844
Mailing Address
Lightspeed Financial Services Group, 20 Headquarters Plaza, North Tower, 7th Floor, Morristown, NJ 07960
Service Desk
Cashiering Department
Toll-free (1-888-LSPD-123)
WebsiteLearn more→
Service Desk (no dedicated estate unit; estate accounts handled by New Accounts)
Toll-Free1-888-577-3123
Fax1-646-393-4844
Mailing Address
Lightspeed Financial Services Group, Attn: Service Desk, 20 Headquarters Plaza, North Tower, 7th Floor, Morristown, NJ 07960
New Accounts (estate / trust / successor-entity accounts) - newaccounts@lightspeed.com
Cashiering (disbursements and transfers) - cashiering@lightspeed.com
WebsiteNotify online→
Verified Jul 2026
Estate planning articles
Learn how to protect your Lightspeed accounts and other assets with trusts, beneficiary designations, and estate planning documents.
