Disclaimer: This is general information and not legal advice. Laws change and every situation is different. Consult a licensed Utah attorney for advice tailored to your situation.

If a decedent owned a brokerage account and you are administering the estate in Utah, the usual path to move those assets into the estate checking account follows clear practical and legal steps. Below is a plain-language, step-by-step explanation of how that normally works under Utah probate practice and the Utah Uniform Probate Code (Title 75 of the Utah Code). Links to official Utah resources are included for reference.

Overview — key concepts

• Nonprobate vs. probate: Accounts with a valid beneficiary designation (payable-on-death (POD) or transfer-on-death (TOD)) or joint tenancy typically pass outside probate directly to the named person. These do not get routed into the estate checking account.
• Probate assets: If the brokerage account was solely in the decedent’s name with no beneficiary or surviving joint owner, it is a probate asset. The personal representative (executor or administrator) collects those assets and places sale proceeds or transferred assets into the estate bank account to pay debts and distribute to heirs.
• Authority to act: Brokers will require legal proof that the person requesting transfer has authority — typically certified Letters Testamentary or Letters of Administration issued by the Utah probate court.

Relevant Utah resources

Utah’s probate law is codified in Title 75 of the Utah Code (Utah Uniform Probate Code). See the official code collection for statutes concerning administration and personal representative powers: https://le.utah.gov/xcode/Title75/. For practical court guidance on probate and the role of a personal representative, the Utah Courts site offers how-to pages for administrators and executors: https://www.utcourts.gov/howto/probate/.

Step-by-step practical process

1. Identify account ownership and designations. Locate the brokerage statements or contact the broker to learn how the account is titled and whether it has an TOD/POD beneficiary or joint owner. If a beneficiary is listed, the account typically transfers to that beneficiary outside probate after the broker receives a death certificate and beneficiary paperwork.
2. Open an estate checking account (if not already open). After appointment, the personal representative opens an estate bank account in the estate’s name. Banks typically require certified Letters and an EIN (employer identification number) from the IRS for the estate. Keep estate funds separate from personal funds.
3. Obtain probate appointment documents from the Utah court. Bring certified/court-stamped Letters Testamentary or Letters of Administration to the broker. These are the documents brokers most often require to release or transfer assets to the estate’s account. See Utah Courts probate how-to for getting appointed: https://www.utcourts.gov/howto/probate/.
4. Provide required documents to the brokerage firm. Typical items brokers request:
   • Certified copy of death certificate.
   • Certified copy of Letters Testamentary or Letters of Administration from the Utah probate court.
   • Broker-specific transfer or liquidation forms (the broker’s transfer request, beneficiary claim forms, or estate transfer forms).
   • Estate EIN and estate bank account information for deposits (if liquidating to cash).
   • Personal identification of the personal representative.

   The broker will give you a list of required forms and explain whether they will transfer securities “in kind” to an estate brokerage account or will sell securities and wire cash to the estate checking account.

5. Decide whether to transfer in kind or liquidate. You can often move securities “as is” into an estate brokerage account (so the estate holds the same stocks or funds) or instruct the broker to sell and deposit the cash into the estate checking account. Consider cash needs of the estate, tax consequences, market risk, and court or will directions. Document the decision in estate records.
6. Recordkeeping and inventory. Utah probate practice requires the personal representative to inventory estate assets and keep clear records of collections, sales, deposits, expenses, and distributions. Maintain copies of broker correspondence, transfer orders, trade confirmations, and bank deposit records.
7. Use estate funds for debts and distributions only after required procedures. Follow Utah rules for creditor notice, payment of valid claims, and court instructions before distributing estate assets. The estate checking account is the place to hold funds while debts and taxes are resolved.

What if the broker refuses to transfer?

If a broker refuses to transfer or requires additional documentation, ask for a written explanation of the refusal, confirm you provided certified Letters and a death certificate, and request a list of exactly what they need. If the brokerage firm still refuses and you have proper court appointment, you may ask the probate court for an order directing transfer or clarifying the scope of your authority. Discuss this with a probate attorney if the broker’s demands seem unreasonable.

Tax and practical considerations

• Tax reporting: Brokerage firms issue final statements and 1099s and may report sales. The estate may need to file an estate tax return or handle income tax for the decedent and estate. Consult a tax advisor for capital gains and estate tax issues.
• Loss of step-up? Assets that pass through probate generally receive a date-of-death valuation for estate and income tax purposes (step-up in basis rules may apply). Keep valuation records and consult a tax professional.
• Timing: Some transfers (especially securities transfers in kind) can take several business days; liquidations may take longer if there are complex assets or trading restrictions.

Practical checklist

• Find account statements and beneficiary designations.
• Obtain certified death certificate(s).
• Obtain certified Letters Testamentary/Administration from Utah probate court.
• Open estate checking and obtain estate EIN from IRS.
• Contact the broker, submit required forms, and choose transfer-in-kind or liquidation.
• Keep full records of transfers, sales, and deposits into the estate checking account.
• Pay valid estate debts and follow Utah probate procedures before distributions.

Final note

The general path is straightforward: establish authority through the Utah probate court, provide the broker with the certified letters and death certificate, and follow the broker’s transfer procedures so funds or securities end up in the estate account. Because brokers have varying internal rules and tax consequences can be significant, consider consulting both a Utah probate attorney and a tax advisor early in the process.