Detailed answer

When an account owner dies, moving brokerage assets into an estate checking account typically requires (1) determining how the account is owned or titled, (2) completing the broker’s required transfer paperwork, and (3) supplying the court-issued authority and tax ID the broker and bank require. Below are the practical steps an appointed personal representative (executor or administrator) in Missouri should follow and the legal steps that usually make a transfer possible.

1. Identify the account ownership and beneficiary designations

• Look at the brokerage account title and paperwork for: individual ownership, joint tenancy with right of survivorship, transfer-on-death (TOD) or payable-on-death (POD) beneficiaries, or trust ownership.
• If the account names a TOD/POD beneficiary or surviving joint owner, the brokerage will ordinarily transfer assets directly to that person rather than to the estate. If the account is owned by a trust, follow the trust terms.

2. Contact the brokerage firm and ask what they need

• Most brokerages publish a “what to do when an account owner dies” packet. Typical items requested include an original or certified copy of the death certificate, the broker’s transfer form, and proof of the representative’s authority (see below).
• Decide whether you want the broker to transfer securities in kind into the estate account, or to liquidate positions and send cash. Brokers can often do either, but will require explicit instructions and may charge fees or have tax/reporting consequences.

3. Obtain letters from the probate court (when required)

If the account must be administered through probate (for example, if the account has no valid TOD beneficiary and is titled solely in the decedent’s name), the brokerage will typically require the letters that the Missouri probate court issues to the personal representative (often called “Letters Testamentary” for an executor named in a will, or “Letters of Administration” if there is no will). To get those Letters you must open a probate case in the circuit court in the county where the decedent lived. See Missouri statutes on probate and administration: RSMo Chapter 473 and on wills: RSMo Chapter 474.

4. Set up the estate bank account and obtain an EIN

• Banks usually require certified Letters from the probate court plus the estate’s Employer Identification Number (EIN) to open an estate checking account. You obtain an EIN for the estate from the IRS. Apply online here: IRS EIN application.
• Once the estate account is open, provide the brokerage the estate account information (routing and account number) and any transfer instructions.

5. Deliver the required documents to the broker

Common documents the brokerage will request (and will not accept alternatives for) include:

• Certified death certificate
• Original or certified copy of Letters Testamentary or Letters of Administration issued by the circuit court
• Broker-specific transfer forms or instructions signed by the personal representative
• Estate EIN and estate bank account details
• In some cases, a medallion signature guarantee for transfers of certificated securities or for certain account moves

6. If the estate is very small, look for simplified procedures

Missouri law provides informal or small-estate procedures in certain situations so the estate may not need full probate. If the estate qualifies under Missouri small-estate rules, the brokerage may accept a small-estate affidavit or other simplified document in place of Letters. Check Missouri law and the brokerage’s policies and confirm the county court’s small-estate process before relying on it: RSMo Chapter 473.

7. Expect timing, reporting, and tax issues

• Broker transfers can take days to weeks after you submit complete documents.
• Transferring in-kind preserves tax bases and may be preferable for tax reasons. Liquidations trigger taxable events for the estate or beneficiaries.
• The personal representative has fiduciary duties. Missouri probate law requires the personal representative to inventory assets, value them, and report account activity to the court and beneficiaries as required by statute and court rules.

8. When the brokerage refuses or disputes your paperwork

If a broker refuses a transfer despite you having proper Letters and death certificate, ask for the exact reason in writing. If the firm insists on additional proof, you may need a court order directing the broker to transfer assets. Your probate judge can issue instructions or an order after a short hearing. For help with contested situations or complex holdings, consider consulting a probate attorney licensed in Missouri or contacting the probate division of the local circuit court: Missouri Courts.

Key Missouri legal references

• Missouri Revised Statutes — probate, administration, and distribution: RSMo Chapter 473
• Missouri Revised Statutes — wills and related procedures: RSMo Chapter 474
• Missouri Courts (circuit courts and probate pages): https://www.courts.mo.gov/
• IRS — apply for an estate EIN: https://www.irs.gov/

Disclaimer: This information explains general Missouri procedures and is for educational purposes only. It is not legal advice. For guidance tailored to your situation, consult a Missouri-licensed probate attorney or the local probate court.

Helpful hints

• Before filing or travel: collect several certified copies of the death certificate. Brokerages and banks commonly require original or certified copies.
• Read the broker’s “death of account owner” checklist; following their list avoids delays.
• Open the estate checking account promptly after obtaining Letters and the estate EIN so funds clear quickly.
• If the decedent named a TOD beneficiary, the broker will almost always honor that and bypass probate; verify beneficiary contact info and paperwork.
• Ask the broker whether they accept electronic copies first; many will start the process with scans but will later request originals or certified copies.
• Keep a full, dated file of every communication, form, and receipt for the estate records and final accounting to beneficiaries and the court.
• If the brokerage holds unusually complex investments (private placements, restricted stock, foreign securities), seek legal and tax advice early.
• Work with a CPA for tax matters—estate income tax and basis calculations can be technical.
• If you face resistance from the brokerage that you cannot resolve, the probate court can issue binding directions or an order to the firm.