Summary
When you die, your brokerage account passes to your heirs based on how it’s set up. If you name a transfer-on-death (TOD) beneficiary, assets transfer directly to them, bypassing probate. Joint accounts usually pass to the surviving owner, while trust accounts shift to a successor trustee. Without a beneficiary, the account may go through probate, delaying access and adding costs. Beneficiaries should keep designations updated, as they override wills. Heirs often receive a “step-up in basis,” reducing taxes on past gains. Planning and confirming account details with your brokerage can help ensure a smooth, timely transfer of assets.
Money
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