Estate settlement for Questrade accounts

Depending on the type of account, there are different settlement procedures when an account holder passes. Explore the 2 sections below for detailed instructions and important information.

If an account holder has passed away, please contact Questrade, and notify a member of our Client Services team in a timely manner.

Please contact us via live chat, or on the phone at 1.888.783.7866.
(Monday to Friday 7:30 AM to 8 PM EST)

1. Once notified, a member of our estate department will follow up with the surviving joint account holder/beneficiary/successor annuitant or estate trustee. Questrade will also suspend all account activities once notified of a client’s death.
2. The estates team will send an email package with important information and a list of verification documents required to start the settlement process. These documents can be submitted electronically in most cases.
3. After the verification documents have been submitted and reviewed, we will follow up with you. A second email will be sent with account details, instructions and forms required to settle the account. These documents can be submitted electronically in most cases.
4. Once the final documents have been reviewed and approved, we will notify you. (Additional time may be required if a document is not accepted, or if we require any additional supporting information or documentation.)
5. Questrade will notify you by email once we have paid out or transferred all the assets.

If the beneficiary (or successor annuitant for TFSAs) already has a Questrade account, assets and cash can easily be transferred from one account to another.

If a beneficiary does not have a Questrade account, and does not wish to create one, additional options can be discussed with our estate team.

Explore the section at the bottom of this article for more information on settlement fees.

Note: Procedures and processing times may vary from case to case. Please refer to your latest email communications with the estates team for next steps and further information if needed.

If an account holder has passed away, please contact Questrade, and notify a member of our Client Services team in a timely manner.

Please contact us via live chat, or on the phone at 1.888.783.7866.
(Monday to Friday 7:30 AM to 8 PM EST)

1. Once notified, a member of our estate department will follow up with the estate trustee. Questrade will also suspend all account activities once notified of a client’s death.
2. The estates team will send an email package with important information and a list of verification documents required to start the settlement process. These documents can be submitted electronically in most cases.
3. After the verification documents have been submitted and reviewed, we will follow up with the estate trustee. A second email will be sent with account details, instructions and forms required to settle the account. Some of these documents can be submitted electronically.
4. A notarized/certified true copy of the Will/Probate must be mailed to us. We will also  request 2 Questrade forms and any other legally binding documents by mail.
   • Documents can be mailed or couriered to:
     Questrade Inc.
     5700 Yonge St. Unit G1- Ground Floor
     North York, ON, M2M 4K2
     Canada
5. After documents have been received, reviewed and approved, Questrade’s estate team will notify the trustee once we’ve paid out or transferred the assets.

Note: Procedures and processing times may vary from case to case. Please refer to your latest email communications with the estates team for next steps and further information if needed.

The estate settlement fee is $200 CAD + tax per account.

If an account does not have a beneficiary named, the estate trustee (you) may incur notary costs, probate costs, and/or legal fees. These fees are independent of Questrade and may vary by province.

• If we need to liquidate assets (stocks, ETFs and etc) on your behalf, additional trade desk fees may apply.
• If we need to issue cheques, additional fees may apply.

Please note: In certain circumstances, additional administrative and/or transaction fees may apply. You (or the estate trustee) may also incur notary costs, probate costs, and/or legal fees. These fees are not charged by and are independent of Questrade and vary by province and by the service provider.

Note: The information in this blog is for educational purposes only and should not be used or construed as financial or investment advice by any individual. Information obtained from third parties is believed to be reliable, but no representations or warranty, expressed or implied, is made by Questrade, Inc., its affiliates or any other person to its accuracy.