In this article:
Overview
Executors of an estate should contact our support team to start the estate settlement process. We'll help you distribute the deceased individual's assets as follows:
- For registered accounts with a named beneficiary: We'll distribute assets to the beneficiary of the account.
- For non-registered accounts and registered accounts without a named beneficiary: We'll payout assets to the estate of the deceased client.
The beneficiary and/or estate executor doesn't have to be a Wealthsimple client to receive the assets.
Note: Our estates team only settles existing Wealthsimple accounts. Executors can't transfer accounts from other financial institutions to the deceased client's Wealthsimple profile.
Step 1: Contact our support team
Please contact our support team when you're ready to start the estate settlement process.
Before you reach out, please keep in mind the following:
- We can't disclose any information about the deceased individual's Wealthsimple profile during this stage.
- We'll need to collect some information about you (the executor) to share with our estate settlement team.
- Wealthsimple's role is to process the estate settlement accordingly. If you have questions or concerns about estate settlement, please contact a lawyer.
Step 2: Respond to the email from our estates team
You'll receive an email from our estates team within 2-3 business days after you contact us with further instructions. Please check your email regularly, including spam folders.
Prepare common estate settlement documents
While you wait for an email response from our estates team, you can start preparing common documents that we may require. Common documents are listed below:
- Death certificate
- Notarial (or Certified True) copy of the will (if applicable)
- Letter of Direction from the executor with instructions to liquidate and payout the estate of the deceased individual
- Valid government-issued ID of the executor
- We accept photos and scans of the ID
- Quebec specific Documents:
- Testamentary Search of the Quebec Bar
- Search Certificate for Chamber of Notaries of Quebec
Note: This list is not inclusive of all documents or forms that we may require from you. If you have already obtained a Probate Document (Certificate of Appointment, Grant of Administration etc.) please provide a notarial (or Certified True) copy of the document.
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