Beneficiary Procedure
The inheritor of an account when no designated beneficiary exists and all named beneficiaries have pre-deceased the account owner.
What is a default beneficiary?
This stage follows completion of the Notice of Death process and includes restrictions, document review, and reclamation review.
What is Create Estate Profile (CEP)?
Before submitting a journal, professionals should confirm this value is accurate in the myQ Inheritor case.
What is the Inheritance Designation Value?
If a residual balance is less than $100, it is generally journaled to this person.
Who is the last inheritor paid?
This digital platform is the only acceptable source for digital authorization to move assets.
What is the Inheritance Center?
For low-value account verification, account values at or below this amount may use alternative beneficiary verification procedures.
What is $1,500 or less?
When an inheritor case is created, the preferred digital solution for completing and submitting tasks is this tool.
What is the Inheritance Center?
If there is only one inheritor receiving the account assets, this journal option should typically be used.
What is Pay Total Balance (PTB)?
This restriction should be used to close brokerage or retirement accounts because it prevents future interest and dividends from being mailed out.
What is CLSD BY SCH?
AAA is designed to allocate assets within this tolerance of an inheritor’s designated inheritance percentage.
What is within $100 or 1% of account value, whichever is less?
If Reel, Frame, and Job ID all display zero in ACS, beneficiary verification may be found in this folder when searching for a Beneficiary Form.
What is Online Account Features?
These deposits are subject to reclamation if received after death, including Social Security benefits and SSI payments.
What are Treasury payments subject to reclamation?
If a decedent account contains mutual funds and a journal is not submitted as PTB, this request must be submitted for pending dividends.
What is an MFDV COMTRACK
For IRA accounts, Estate Services is required to notify inheritors at least this many times about a potential outstanding decedent RMD.
What is once?
This transaction type is used to move assets that cannot be transferred through traditional Client Central journal methods.
What is a Generic Transaction (GenTran)?
For TDA conversion accounts where the decedent died before conversion and Line of Succession applies, this category comes after children but before the estate.
Who are the living parents?
If the proof of death is a foreign death certificate and residency is unclear, this document may be requested to determine residency.
What is an Affidavit of Residency (AOR)?
For stock and ETF pending dividends, professionals verify pending dividends using this BlueZone command.
What is DIVA?
Confirming the date of death in CEP automatically triggers this review during overnight batching.
What is a cost basis step-up review?
These assets cannot be transferred through Click to Transfer and require a separate myQ process handled by a specialized team.
Alternative Investments (AI)?
If a beneficiary designation document cannot be located and the most recent in-good-order designation does not match Client Central, this review request must be submitted.
What is a Risk Beneficiary Mismatch Review?
For Retail processing, after an initial conversation with an inheritor and while awaiting response or documents, the standard pend period is this length of time.
What is 30 days?
If an SRDV request is determined NIGO, the Assigned Relationship Specialist has this amount of time to resolve it before cancellation.
What is 2 business days?
When closing an account, professionals should review for linked SPS, Global, or this account type.
What are Futures accounts?
If an account update is completed without proper indexing, this team may contact the Estates professional to resolve the missing documentation issue.
Who is Client and Account Data Control (CADC)?