How to deposit funds and securities into an estate account

How to deposit funds and securities into an estate account

Estate accounts manage the assets of the deceased's estate, prior to the distribution of assets to the estate beneficiary(ies). An estate account is only established during the probate process. Once established, you can deposit funds and securities into the estate account. To deposit funds and securities, complete the applicable documents for your situation.

All accounts
  • Firm name and master account number
  • Schwab account number(s), date of death, last known address Tooltip , and account registration of the deceased
  • Beneficiary/executor's name, relationship to the deceased, address, phone number, and Social Security number
  • Estate's name, address, and taxpayer identification number 
  • A Certified death certificate Tooltip copy
  • Letters Testamentary Tooltip
  • If required by deceased's state of residence, an Inheritance tax waiver
  • If the estate is not probated, a Small Estate Affidavit
  • Adobe® Reader® or Adobe Acrobat® 7.0 or higher (download the latest version on the Adobe website)
In addition to the information above, the following information specific to the method used to move assets may be required:
Journal assets
  • A completed Affidavit of Domicile to establish state of residency for the Inheritance tax waiver (there are  additional requirements Tooltip  for the Affidavit of Domicile)
  • Letter of authorization (LOA) Tooltip  to give instruction to change title on the account or disburse assets
  • A completed Check and Journal Request Form to move funds and securities from the account of the deceased into the estate account
  • If a new account needs to be opened, a completed Account Application (Schwab One Personal Accounts) or Account Application (Schwab One Trust Accounts)
  • If authorized parties change, a completed Limited Power of Attorney (Investment Advisors LPOA) form
Deposit stock certificates
  • A completed Affidavit of Domicile to establish state of residency for the Inheritance tax waiver (there are  additional requirements Tooltip  for the Affidavit of Domicile)
  • A completed Irrevocable Stock or Bond Power, which the  executor(s) Tooltip  must sign (they can alternatively sign the back of the stock certificates)
  • Letter of authorization (LOA) Tooltip  to give instruction to change title on the account or disburse assets
  • If a new account needs to be opened, a completed Account Application (Schwab One Personal Accounts) or Account Application (Schwab One Trust Accounts)
  • If authorized parties change, a completed Limited Power of Attorney (Investment Advisors LPOA) form
Submitting completed form
  • If using DocuSign® to submit forms:
    • For existing Schwab clients, a complete Schwab Advisor Center® profile with the account holder's current email address and mobile phone number
    • For new-to-Schwab clients, the email address and a mobile phone number
    • All clients must use both text message (SMS) authentication and Knowledge Based Authentication (KBA) for DocuSign
If DocuSign eligible If completing forms using DocuSign, see:
  1. Select the applicable form for your situation.
  2. Complete all applicable sections.
  3. Collect all other required non-Schwab documentation from the account holder instructing Schwab to change the title on the account or disburse assets.
If not DocuSign eligible Print the form(s) and obtain the appropriate account holder signature(s).
  • Send the signed form(s) to your Schwab service team via a Schwab Advisor Center service request.
  • Mail documentation requiring the original document or a notary to your Schwab service team.

 

Deposit checks payable to a deceased client or to the estate of the deceased client directly into an estate account for that individual without additional documentation. See How to deposit checks for more information.

Contact the firm holding the existing account for instructions on how to transfer the assets to the estate account at Schwab.

  • If forms were submitted using DocuSign, see the What's Next? section of How to use DocuSign.
  • Unique document requirements apply when a client dies outside the United States. If documentation is missing, a Schwab service representative will contact you.
  • If you have questions about handling the deposit of funds and securities into an estate account, call your Schwab service team.

Go to the forms library on Schwab Advisor Center and select the forms below.

Form: Affidavit of Domicile
Form: Check and Journal Request Form
Form: Irrevocable Stock or Bond Power
Form: Limited Power of Attorney (Investment Advisors LPOA)
Form: Account Application (Schwab One Personal Accounts)
Form: Account Application (Schwab One Trust Accounts)

Can an estate account be opened if the estate is no longer in probate?
An estate account may be opened only if the estate is currently in probate. In the circumstance where a court-ordered decree has already been issued, but subsequent assets are found later, probate will have to be reopened and resettled.

Are the procedures the same for clients who have died overseas?
No. Contact your Schwab service team to get information on the unique document requirements when a client dies outside of the United States.

How to add a power of attorney to an account
How to handle deceased clients' assets
How to open an estate account
How to deposit checks
How to use DocuSign