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Leslie k, West Palm Beach
February 8, 2015 04:52:44 PM
In reply to Leslie k, West Palm Beach
Thank you for reaching out and please accept our heartfelt condolences for your loss, Leslie.
In the unfortunate event of a Customer’s death, it is important for us to assist your family and the Executor/Administrator with our Customer’s accounts.
First, to get the process started, the Executor or Administrator must provide the following documentation to a TD Bank Store:
Photo identification, copy of the Death Certificate, and an original 'Certificate of Letters Testamentary' or 'Letters of Administration' with raised seal dated within 60 days, and a 'Letter of Instructions' signed by all the Executors or Administrators (with signature guaranteed by another financial institution). These documents may vary by State. The Death Certificate will provide the date of death if the date-of-death balance for the account is needed.
With respect to the IRA in particular, kindly note that IRA accounts are not automatically paid to the Estate. During your time at the Store, we'll check with our IRA Department to determine who the beneficiaries may be. If anyone is named, providing that all of the necessary documents are on file, they will be the only parties able to sign for distributions. We'll be able to provide the name(s) of any beneficiaries to the account Executor or Administrator and let you know about any further steps that need to be taken at that time. If not, the funds will be managed by the Executor.
Please note that inheritance tax laws which may apply are defined by the permanent residence of the deceased, and any documents needed can vary by State. Therefore, we recommend that you visit a TD Bank Store or give us a call directly at 888-751-9000 to speak with a Banking Specialist to confirm what else may be needed prior to your visit. For Store locations and hours, please visit: http://bit.ly/TDStores. You may also reach our IRA Department with any questions at 800-231-8193, Option 7. They are available Monday through Friday, 8:00 am to 6:00 pm.
We hope this helps you get started, Leslie. All the best to you and your family during this time and take care.
Kristen P, Mount Laurel
February 8, 2015 04:53:59 PM