Estate Transmissions
The following outlines the process for transferring securities registered in the name of the deceased to his/her estate or to a beneficiary.
There are three situations:
1. With Probate
Probate is a formal certificate given by the court that certifies that a will has been proven, validated and registered and which, from that point on, gives the executor legal authority to execute the will. If the will has been probated, to transfer securities the following must be provided:
- Notarized Certificate of Death
- Original or Notarized copy of the Letters Probate
- Declaration of Transmission
- The certificate representing the security endorsed by the executor(s) guaranteed by a Canadian Chartered I Bank or a financial institution, which is a member of a recognized Medallion Signature Guarantee Program. (If you are unable to locate your certificate(s), please refer to Lost Certificate procedures)
- New securities issuance, control and compliance
- Payment of service fees.
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2. Without Probate
If the will has not been probated, to transfer securities, the following must be provided:
- Notarized Certificate of Death
- Notarized Waiver of Probate Bond of Indemnity (to be completed by the Executor or all persons listed as residual beneficiaries)
- Notarized copy of the Will
- Declaration of Transmission
- The certificate representing the security endorsed by the executor(s) guaranteed by a Canadian Chartered I Bank or a financial institution, which is a member of a recognized Medallion Signature Guarantee Program. (If you are unable to locate your certificate(s), please refer to Lost Certificate procedures)
- Payment of service fees.
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3. Without a Will
If no will exists, then there are no formal instructions as to how the deceased wishes to dispose of their property. As a result, we will require the following:
- Notarized Certificate of Death
- Notarized Waiver of Probate Bond of Indemnity (to be completed by the Executor)
- Declaration of Transmission
- Appointment of Estate Trustee without a Will (This can be obtained from a Court.)
- The certificate representing the security endorsed by the executor(s) guaranteed by a Canadian Chartered I Bank or a financial institution which is a member of a recognized Medallion Signature Guarantee Program. (If you are unable to locate your certificate(s), please refer to Lost Certificate procedures)
- Payment of service fees.
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NOTE: The above requirements may vary if the deceased was a resident of the Province of Quebec. If you require further information or unsure or your situation, please contact our Estates Department, Madelyne Mendoza.