What happens to your Prosper accounts when you die
No beneficiary or trust option on any account, so they pass through the estate
Prosper does not currently support beneficiary designations, transfer-on-death registrations, or trust account titling on any account type. All Prosper accounts pass through the estate at death and may require probate.
When an account holder dies, the executor or administrator will need to contact Prosper with a death certificate and legal authority documents to claim account balances. The process and required documents are covered on the death claim page.
Prosper does not currently support beneficiary designations (POD or TOD) on any account type. All accounts transfer through the estate at death and may require probate.
Why trust accounts are not available
Prosper does not support retitling accounts into a trust, naming a trust as beneficiary, or any other probate-avoidance mechanism. Account balances transfer through the estate at death.
Investment Account (Borrower Payment Dependent Notes)
A general (taxable) investment account holding Borrower Payment Dependent Notes, which Prosper offers under a prospectus filed with the SEC. Prosper assigns no beneficiaries to investment accounts, and Notes cannot be transferred except as required by applicable law or court order. Only individual accounts are offered; an account may be held personally or in the name of a trust, estate or business entity. Investor cash sits in a pooled account at Wells Fargo Bank, N.A. titled in Prosper's name for the benefit of investors. Closing an account is done by phone, and an account closed with active Notes forfeits those Notes unless the cash balance is withdrawn first. Prosper publishes no procedure for a deceased investor's account.
Sources
Data sourced from Prosper primary sources (16 pages reviewed). How we research.
Prosper estate support
Personal Loan support
Phone
Prosper® Card customer service
Investor Services
Hours
Mailing address
Website
Estate requests go through general customer service.
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