How to name beneficiaries and fund a trust at Lightspeed
Covers 6 investment, and 5 retirement accounts — beneficiaries can be updated by phone
Lightspeed Service Desk / Relationship Management
Lightspeed Financial Services Group, 20 Headquarters Plaza, North Tower, 7th Floor, Morristown, NJ 07960
Lightspeed Service Desk / Relationship Management
Lightspeed Financial Services Group, 20 Headquarters Plaza, North Tower, 7th Floor, Morristown, NJ 07960
Service Desk (no dedicated estate unit; estate accounts handled by New Accounts)
Lightspeed Financial Services Group, Attn: Service Desk, 20 Headquarters Plaza, North Tower, 7th Floor, Morristown, NJ 07960
There are two ways to keep your Lightspeed investment accounts out of probate: adding beneficiary designations and retitling eligible accounts into a revocable living trust. Which approach works best depends on the account type and your overall estate plan.
Across 11 product types, Lightspeed investment accounts vary in how they transfer at death. The sections below walk through Transfer on Death (TOD) designations, trust funding options, and which products support each method.
- Brokerage (individual, joint, and after the last survivor): Transfer on Death Registration Form, form 0505C
- Traditional, Roth, SEP, Rollover, or Limited Margin IRA: the IRA beneficiary designation on the IRA application (IRAs are not TOD-eligible)
Required Documents
- Trust name, date established, and tax ID (EIN or SSN)
Special Requirements
- Paper only. There is no online or in-branch beneficiary designation; the TOD form is returned by fax or email.
- No Medallion Signature Guarantee and no notarization on the TOD form itself. (The Wedbush Account Transfer Form does carry a Medallion Signature Stamp box, but it is marked "For WS Only" and is completed by Wedbush, not by the customer.)
- Spousal community-property waiver signature required in AZ, CA, ID, LA, NV, NM, TX, WA, and WI when the spouse is not a named beneficiary.
- A custodian must be named for any beneficiary who is a minor.
- Section 6 lists assets that are NOT eligible for TOD registration: 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 form is governed by California law and gives Lightspeed and Wedbush the protections of the California TOD Act; the account holder also agrees to indemnify and hold Lightspeed and its clearing agent harmless from claims brought by the estate.
- A trust account (Trust Cash or Trust Margin application) is the alternative to a TOD designation.
Sources
Data sourced from Lightspeed primary sources (20 pages reviewed). How we research.
Download these Lightspeed instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against Lightspeed primary sources. Bring it to the branch or keep it beside the phone.
Lightspeed Service Desk / Relationship Management
Lightspeed Financial Services Group, 20 Headquarters Plaza, North Tower, 7th Floor, Morristown, NJ 07960
Lightspeed Service Desk / Relationship Management
Lightspeed Financial Services Group, 20 Headquarters Plaza, North Tower, 7th Floor, Morristown, NJ 07960
Service Desk (no dedicated estate unit; estate accounts handled by New Accounts)
Lightspeed Financial Services Group, Attn: Service Desk, 20 Headquarters Plaza, North Tower, 7th Floor, Morristown, NJ 07960
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