What to do when a Raymond James account holder dies
Report the death to Raymond James at 1-800-647-7378
When an account holder at Raymond James passes away, the next step depends on how the investment accounts were set up. Accounts with beneficiary designations or trust ownership transfer outside of probate. Accounts titled solely in the deceased's name require the estate's legal representative to work with Raymond James Trust, N.A. (1-727-567-2300) to access and distribute the funds.
To start, call Raymond James at 1-727-567-2300. Have the account holder's full name, account numbers, and the death certificate ready before you call.
Death claim process
Here is the step-by-step death claim process at Raymond James:
Filing a claim
Required Documents
- Written notice of the deathThe joint-account terms ask for immediate written notice when an account owner dies.
- Letters testamentary, for a joint account without rights of survivorshipThe account may be restricted until the necessary documentation, such as letters testamentary, is provided.
- New account documentation signed by the surviving joint holder, for a joint account without rights of survivorship, if Raymond James asks for it
- Written evidence of the fiduciary's authority, if Raymond James or the financial advisor asks for it
- Proof of the IRA owner's death, for an IRAProvided by a designated beneficiary or the personal representative, in a manner acceptable to the custodian.
What happens to each kind of account4
- Joint account with survivorship
On a joint account with rights of survivorship, the entire interest vests in the surviving joint tenant or tenants on the same terms and conditions.1
- Joint account without survivorship
On a joint account without rights of survivorship, the account may be restricted on notice of the death until the necessary documentation is provided, and the surviving holder may be asked to sign new account documentation.1
- Fiduciary account
Raymond James may, in its sole discretion, require additional documentation before permitting a fiduciary on an existing account, and a fiduciary agrees to deliver written evidence of authority if asked.1
- IRA
The IRA custodian may rely on the last written beneficiary designation it received. If every primary and contingent beneficiary died before the owner, or no designation is in effect, the beneficiary is deemed to be the surviving spouse or, if the owner was not married, the estate.2
On an IRA owner's death, Raymond James may sell any assets that cannot be divided into negotiable amounts and distribute the proceeds to the beneficiaries.2
Accounts handled elsewhere4
- Raymond James Financial Services
Accounts of independent-contractor advisors; those accounts are custodied at Raymond James & Associates3
- Raymond James Trust Company of New Hampshire
Raymond James IRAs, as custodian, with Raymond James & Associates as sub-custodian3
- Raymond James Trust, N.A.
Trust settlement, and estate settlement through probate where it serves as personal representative or executor4
- Raymond James Trust, N.A.
Trust and estate services5
Phone: 1-727-567-2300
Toll-free: 1-800-248-8863 ext. 72300
Fax: 1-727-567-3922
Mailing address: Raymond James Trust, N.A., 880 Carillon Parkway, St. Petersburg, FL 33716
What Raymond James's agreement and guidance say5
- Telling the institution
On a joint account, the owners agree to give Raymond James immediate written notice if an account owner dies.1
- What it does when notified
At an account owner's death, Raymond James may, at its discretion, cancel an unexecuted order or buy or sell securities in the account.1
- Debts owed to the institution
At an account owner's death, Raymond James may sell securities to satisfy any debt, and a debt or lien assessed after the death is charged against the surviving owners' interests and the deceased owner's estate.1
- Indemnity a claimant may have to give
Each surviving owner and the deceased owner's estate are liable for any debt or loss from transactions started before Raymond James received written notice of the death, or incurred in liquidating the account.1
A fiduciary and each account owner agree to indemnify Raymond James against losses from any act, error or omission of the fiduciary.1
- Fees
Transfer to beneficiary services are among the services available to clients of Raymond James financial advisors for no additional charge.6
Not in Raymond James's published guidance5
- A department for deceased-customer accounts
- A claim form
- An online way to report a death
- Whether the death certificate must be certified
- A mailing address for claim documents
Sources6
- 1.Master Client Agreement, MCA RJA 09/26
- 2.Raymond James Trust Company of New Hampshire Traditional and Roth Individual Retirement Custodial Account Agreement, IAA 9/21
- 3.Raymond James Welcome Guide, RJA 26-BDMKT-7552
- 4.Solutions & Services - Raymond James Trust
- 5.Our team - Raymond James Trust
- 6.Client Account Fees and Charges
Raymond James Trust, N.A. can be reached by phone at 1-800-248-8863 ext. 72300 and fax at 1-727-567-3922 for questions throughout the claims process.
Sources
Data sourced from Raymond James primary sources (24 pages reviewed). How we research.
Raymond James death claims support
Raymond James Client Services
Phone
Toll-free
Client Access Support (877.RJ.ACCESS)
Hours
Mailing address
Website
Death notifications go through general customer service.
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