How can your family member claim your investment account if you die?

>>FREE Download - Quick Start Guide to Investing in Phil stock market! Click here!<<

Here’s one useful information shared to us by a fellow investor.

Good day fellow investors. I noticed that when I applied to COL Financial there was no beneficiary portion in the application form so I emailed their helpdesk to ask how a family member could claim the account in case the account holder died. I have attached their response below. Hope this helps.

In the unfortunate event of the account holder’s demise, the following are the documents to be submitted by the surviving spouse/heir:
1. Death Certificate
2. Either one of the following:
2.1If with testate or intestate proceedings, a court order appointing the executor/administrator and authorizing him to close the account and collect the proceeds;
2.2 If without testate or intestate proceedings:
2.2.1 If there is only 1 heir – Affidavit of Self-Adjudication
2.2.2 If there is more than 1 heir – Deed of Extra-judicial Settlement of Estate
2.2.3 In either (i) and (ii), submit also proof of filing of the Affidavit or Deed, as the case may be, with the office of the register of deeds
3. Release, waiver, and quitclaim, holding COL free and clear from any action, claim or liability brought by third parties in relation to the closing of the account and release of the proceeds thereof
4. Proof of payment of estate tax or BIR Certification that the same is exempt from estate tax
5. Identification documents of surviving heirs (photocopy of 1 government issued ID, with picture and signature)

 

Surviving heirs may then open an account with us to transfer all stock and cash positions from the deceased client’s account to the surviving heirs’ account. Surviving heirs will have to submit identification documents and POB and accomplish account opening forms.”

There you go! So stay fit, eat healthy and be prepared!
Have fun investing (while you’re alive!)
PS: You’re invited to Philippine Stock Market Outlook 2013!
Take advantage of the super early bird fee of 697  597  497 for our upcoming Market Outlook on January 19 2013 (9AM-1PM).
The program is jumpacked with helpful content ranging from personal finance planning in the context of investments, market review and outlook and a closer look and examination on investing approached including COL Model Portfolio, Truly Rich Club’s SAM (Strategic Averaging Method) and strategies for a more active trading!

For more details click here

Deadline of Super early bird fee is on January 10. Limited slots only so reserve you slot now!


Did you like this article?

Don't miss out on my new posts. Subscribe to Smart Pinoy Investor by email and get my latest tips & updates! Click HERE! (it's FREE)

Avoid losing money and become a smarter investor!

Join my online training program for newbies(for OFWs too!) and learn how you can do stress-free investing!Click HERE!

Free Webinar - How to join investing in Philippine stock market for beginners!