The entire M1 team offers their sincere condolences and is here to help you with the next steps.
You don't need to have all your documents together at this stage.
When you're ready, please contact us to inform our team of the account owner’s passing. We ask that you include the email address associated with their M1 account so we can locate it.
When you’re able, you can begin collecting the following documentation:
- The decedent’s death certificate
- Letters of Administration, a letter of Testamentary, or a Court Letter of Appointment
Most accounts will only require these documents, but we will let you know if there is anything else we need to assist you.
What if I was named as a TOD beneficiary on their account?
Once you reach out to our team, we will check for any named beneficiaries on the decendent’s account.
If you are named as a TOD beneficiary, only a death certificate will be required for the account transfer.
What happens if they have a Margin Loan?
Margin loans are required to be paid down immediately upon receiving the death certificate and margin balances cannot be transferred.
We will automatically pay down the loan balance from Slices which are overweight in their Pie first.
What if they have a Joint Brokerage Account?
Ownership of Joint Brokerage Accounts is passed to the surviving Joint Brokerage Account holder.
How long will the account transfer process take?
Typically, 2-5 weeks.
How will I receive tax documents for their account(s)?
Please reach out to our team when it’s time to file your taxes for the year. We will help make sure you get the documents you need.