What is the procedure to redeem an Investment Certificate of a deceased investor?
The first step is to provide us with a certified copy of the death certificate. If a paper certificate was issued, we will also need to have that returned to us. We will then check the account records to determine the form of ownership and whether any beneficiaries were named. If the Investment Certificate was owned in Joint Tenancy, it will simply become the sole property of the surviving joint tenant. If there were no surviving joint owners and there are named beneficiaries, we need a written request for redemption from each of the beneficiaries. Unless otherwise instructed by the accountholder prior to their death, the distribution will be made in equal amounts to each beneficiary. If no beneficiaries are named, we will need a copy of the court papers appointing the executor of the estate along with a written request from the executor for redemption of the Investment Certificate. If the Investment Certificate is owned by a trust, we will need a written request from the trustee (or s
