COO Living
This digital pathway is used to process internal gifting requests.
What is CWP?
This document confirms that the account owner has passed away.
What is a death certificate?
Where in CRAVE can a representative find a client’s cost basis information?
What is under the Portfolio section?
A spouse beneficiary generally has these two options when inheriting an IRA from their deceased spouse.
What are assume and inherit?
This person is listed to receive the account after death.
Who is a beneficiary?
This Vanguard form is used when a client wants to update or change the trustee on an existing trust account.
What is the Trustee Certificate Form?
This document may be needed if there is no beneficiary on file.
What is a CLOT
After an account owner passes away, cost basis is usually updated using this method.
What is a step‑up in cost basis?
Under current rules, most designated beneficiaries have this many years to fully distribute an inherited IRA.
What is 10 years?
If no beneficiaries are listed, assets generally go here.
What is the estate?
A client wants to transfer assets from their Vanguard account to their child's account held at another financial institution.
What is an external gift?
What document is required for a third party to receive documents related to a decedent’s account?
What is a Letter of Authorization (LOA)?
A step‑up in cost basis is generally based on this date.
What is the date of death?
[DAILY DOUBLE] This digital transfer tool is used to transfer a Minor IRA to an Adult IRA once the minor reaches the age of majority.
What is Formless 1.0?
What information is required for decedent security.
What is the decedent’s first and last name, the last four digits of their Social Security number, and their full address? (Account Number)
[DAILY DOUBLE] What pages of a trust document are needed when opening a trust account?
What are the name and date of the trust and the page containing the trustee's name and signature?
What additional documentation is required when beneficiaries are listed by relationship?
What is a Beneficiary Identification (Bene ID) form?
This type of account typically does NOT use cost basis.
What is a retirement account (like an IRA)?
If no beneficiary is listed on an IRA, who is typically entitled to the assets?
What is a Spouse?
Why do we place a Notice of Death (NOD) on an account?
What is to alert the firm that the account holder has passed away and to prevent unauthorized activity while the COO process begins?
An account owner calls and wants to add their spouse as a joint owner on an existing Vanguard account. What forms are required?
What are a New Account Application & COO Form.
Associates should be aware of ITW requirements when a decedent was a resident of one of these three locations.
What are Pennsylvania, New Jersey, and Puerto Rico?
If you suspect cost basis has not been stepped up correctly, this tool can be used to verify the cost basis information.
What is Buddy?
If a decedent did not take their full Required Minimum Distribution (RMD) for the year of death, these individuals are responsible for ensuring the remaining RMD is taken.
Who are the beneficiaries?
What type of case do we create when beneficiary changes are identified after the account holder’s death?
What is a COO Specialty Cases?