What to do when a Public account holder dies
Contact Public — 5-step process, 6 required documents, and 3-7 business days depending on the option selected, account assets, and account size
Member Support
228 Park Ave Suite 97716, New York, NY 10013
Member Support
228 Park Ave Suite 97716, New York, NY 10013
What happens to Public 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 Public's Member Support (Death Claims) to claim the funds.
Public provides an online portal for initiating death claims, which can simplify the initial notification and document submission process. Claims can also be started by phone.
Death claim process
Here is the step-by-step death claim process at Public:
Filing a claim
- Email support@public.com or use in-app chat at https://app.public.com/support/chat; Public has no death-claims phone line and no mailed-claim intake
- Section 1.N ("Event of Death") of the Public Brokerage Agreement (https://public.com/disclosures/public-brokerage-agreement) obligates the representative of the estate, or a surviving joint owner, to give immediate written notice
- Until Public actually receives that written notice it is not responsible for trades already executed on the decedent's open orders, so notifying late can cost the estate money
- Provide a certified copy of the death certificate
- Provide Letters Testamentary or court-appointed administration documents
- Provide government-issued ID for the executor or administrator (or for the TOD beneficiary, whose identity Public validates before releasing assets)
- Public may also require inheritance or estate tax waivers before releasing assets, and may restrict transactions in the account in the meantime (Section 1.N)
- Open an estate account and move the holdings into it
- Sell and disburse funds via a third-party distribution form, direct from the decedent's account
- Distribute to the named TOD beneficiaries on ID validation plus the death certificate
- For TOD accounts with non-U.S. beneficiaries: Public does not transfer securities ownership internationally, so it liquidates the account and wires cash (restrictions may apply by country)
Required Documents
- Certified death certificate
- Letters Testamentary or Letters of Administration (court-appointed documents)
- Government-issued photo ID for the executor or administrator
- Government-issued photo ID for beneficiary (if TOD account)
- Third-party distribution form (if disbursing funds without TOD)
- Inheritance or estate tax waivers, if Public requires them (Public Brokerage Agreement, Section 1.N)
Claims Contact
What to know at this institution
Public has no death-claims phone line and no claims mailing address: every death notification runs by email to support@public.com or through in-app chat, and there is no mailed-claim-letter process, so a letter of instruction is not part of this workflow. Member Support marks the account as deceased and stays with the claim throughout. Three distribution options exist (TOD transfer to the named beneficiary, an estate account, or a third-party distribution form that sells and disburses direct from the decedent's account), and transfers typically take 3-7 business days depending on the option, the assets, and the account size. Two provisions of the Public Brokerage Agreement's "Event of Death" clause (Section 1.N) are worth knowing before you notify: Public may close out any or all of the decedent's investing accounts WITHOUT waiting for a personal representative to be appointed and without notice to that representative, and the estate stays liable for any net debit balance or loss from trades initiated before Public received written notice of the death or from that liquidation. Public may also require inheritance or estate tax waivers and restrict transactions in the account until it is satisfied. Because Apex Clearing Corporation carries and custodies the assets, the transfer itself is executed by Apex; Member Support is the only channel through which the executor reaches it.
How long the process takes at Public: 3-7 business days depending on the option selected, account assets, and account size. The most common reason for delays is missing or incomplete documentation, so submitting everything upfront is the best way to keep things moving.
Public requires several documents to process a claim, including Certified death certificate, Letters Testamentary or Letters of Administration (court-appointed documents), and Government-issued photo ID for the executor or administrator, 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
Crypto assets held through Public are traded through Zero Hash LLC and are not SIPC or FDIC insured. Crypto accounts are not eligible for TOD designation. Contact Member Support at support@public.com to discuss options for transferring or liquidating crypto holdings as part of the estate process.
No. Public's help center (https://help.public.com/en/articles/4375163-can-i-add-a-beneficiary) states that a Transfer on Death registration "can be added to your account manually by contacting our Support team" -- there is no in-app path for brokerage accounts. Email support@public.com or use in-app chat to request the TOD registration form. IRAs are the opposite: an IRA beneficiary is added directly in the app or on the website under Settings > Profile > Personal Information > Beneficiaries. Because the brokerage TOD is a manual, support-handled step, it is worth asking Member Support to confirm in writing that the designation was applied.
Section 1.N ("Event of Death") of the Public Brokerage Agreement requires the estate's representative or a surviving joint owner to give Public immediate WRITTEN notice of the death. Until that notice is actually received, Public is not responsible for trades executed on the decedent's open orders. After notice, Public may require inheritance or estate tax waivers, restrict transactions in the account, and close out any or all of the accounts without waiting for a personal representative to be appointed and without notice to that representative. The estate remains liable, jointly and severally with any surviving joint owner, for a net debit balance or loss from trades initiated before notice or from that liquidation, which matters most on a margin account.
Public's Member Support (Death Claims) can be reached by email at support@public.com for questions throughout the claims process.
When the deceased had multiple Public investment accounts, some may need separate claims while others can be handled together. The Member Support (Death Claims) can clarify what's needed for each account type.
Sources
Data sourced from Public primary sources (26 pages reviewed). How we research.
Member Support
228 Park Ave Suite 97716, New York, NY 10013
Member Support
228 Park Ave Suite 97716, New York, NY 10013
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