Detailed Answer

This article explains the typical steps for moving brokerage account assets into an estate checking account under Washington law. It assumes no prior legal knowledge. It covers when probate is required, how brokers typically handle transfers, the paperwork you will need, and alternatives for small estates.

1. Figure out how the account is owned

Begin by confirming how the brokerage account was titled and whether a beneficiary designation exists:

• TOD/POD (transfer-on-death / payable-on-death) or an explicit beneficiary: the account usually passes directly to the named beneficiary and generally avoids probate. The broker will typically transfer the assets to the beneficiary after you provide a certified death certificate and the beneficiary’s identification.
• Joint tenancy with rights of survivorship: the surviving joint owner usually becomes sole owner and can move assets without probate.
• Account solely in the decedent’s name (no beneficiary/TOD): those assets generally are probate assets and require a personal representative to collect them for the estate.

2. If assets pass directly to a beneficiary or joint owner

If a beneficiary or joint owner is entitled to the account, contact the broker’s probate/death department and provide the documents they request (typically a certified death certificate and the beneficiary’s ID). Brokers have specific forms and internal processes; ask whether they will transfer securities in kind or sell and send cash. If the beneficiary prefers funds to go to an estate checking account, note two points:

1. TOD/POD assets generally belong to the named beneficiary, not the estate. The beneficiary would usually need to deposit those proceeds into the estate account voluntarily if that is appropriate for estate administration.
2. If you want proceeds routed to the estate rather than to the beneficiary, talk to an attorney before acting. A beneficiary may have tax or fiduciary reasons to accept or decline assets.

3. If the account is a probate asset: appoint a personal representative

To move assets that are probate property into an estate checking account, a personal representative (also called an executor or administrator) must be appointed by the court. Under Washington law you start probate by filing a petition in the appropriate superior court. See RCW 11.28.010 for appointment of a personal representative: RCW 11.28.010.

After the court appoints the personal representative, the clerk issues Letters Testamentary or Letters of Administration (often called certified letters). Brokers require certified copies of those letters to authorize transfers or to cash accounts.

4. Open an estate checking account and obtain an EIN

Most banks require two things to open an estate checking account: the certified Letters and an Employer Identification Number (EIN) for the estate. Get an EIN from the IRS (online application available here): IRS: Apply for an EIN. The estate checking account should be titled in the name of the estate (for example: “Estate of Jane Doe, Deceased, John Smith, Personal Representative”).

5. Provide required documents to the broker

Once you have Letters and an estate checking account, contact the broker. Typical requirements:

• Certified copy of the Letters Testamentary or Letters of Administration.
• Certified copy of the death certificate.
• Estate EIN and the estate checking account details (routing and account numbers) or instructions for in-kind transfer to an estate brokerage account.
• Broker-specific transfer or distribution forms. Some brokers will move securities directly into an estate brokerage account; others issue a check payable to the estate.
• Payoff information for any margin loans, liens, or outstanding obligations on the account.

Ask the broker whether they require a signature guarantee or medallion stamp on transfer documents and how they will record the transfer for tax purposes.

6. Small estate alternative

Washington law offers a simplified process for certain small estates that allows collection of personal property without full administration. See RCW 11.62 (Payment or delivery of property without administration): RCW 11.62.010. If the estate qualifies, a person entitled to property may present an affidavit and other required documents to the holder (such as a broker) to collect assets. Review the statute and court guidance carefully or consult a probate court clerk for the current thresholds and exact form requirements.

7. Tax and timing considerations

• Do not rush to sell highly appreciated securities without checking tax consequences; an estate may get step‑up in basis for assets included in probate, which affects capital gains on later sales. Speak with a tax advisor.
• Washington has its own estate tax rules; check the state Department of Revenue or counsel if you expect the estate may be large.
• Expect brokers to take days to weeks to process transfers once they have certified documents. Plan for any urgent bills or creditor needs.

8. Keep clear records

Record every transfer, check, and communication. The personal representative must inventory estate assets, manage them prudently, and account to beneficiaries and to the court as required by Washington probate rules.

Practical step-by-step checklist

1. Confirm account ownership and beneficiary designations with the broker.
2. If beneficiary/TOD, provide death certificate and beneficiary ID to the broker.
3. If probate required, file a probate petition and obtain Letters (see RCW 11.28.010).
4. Obtain an estate EIN from the IRS.
5. Open an estate checking account in the estate’s name.
6. Give the broker certified Letters, death certificate, estate EIN, and estate account details. Complete any broker forms.
7. Confirm whether the broker will transfer assets in kind or sell and deposit proceeds, and whether any signatures or guarantees are needed.
8. Keep copies of all paperwork and track the deposit into the estate account.

Helpful Hints

• Call the broker’s probate or deceased accounts team first; they will tell you their exact document list and forms.
• Get certified copies of court Letters — brokers rarely accept plain photocopies.
• Do not use the decedent’s personal bank account to pay estate expenses; open a separate estate checking account.
• If a beneficiary is entitled to an account by designation, the beneficiary should confirm whether acceptance will cause tax or inheritance issues before transferring to the estate.
• Ask the broker whether they will transfer securities in kind to an estate brokerage account to avoid unnecessary sales.
• Keep beneficiaries informed — transparency reduces disputes and delays.
• If the estate appears small, check RCW 11.62 for a simplified collection procedure to avoid full probate: RCW 11.62.010.

When to get professional help

Consider a probate attorney if the estate is large, contains unusual assets, has creditor disputes, contested beneficiary claims, or complex tax issues. An attorney can help draft petitions, protect the personal representative from liability, and ensure proper filings with the court.