We understand notifying financial institutions a loved one has passed away can be a daunting experience. We’re here to make this experience as seamless as possible. Below is what you can expect when you notify us of a Public members passing:
When notifying our Member Support team of your loved ones death, they will request a few documents: Death Certificate, Letters Testamentary/court-appointed documents, and the ID of the executor or administrator.
Once these documents are received our team can appropriately mark the Public account as deceased.
Once the Public account has been marked as deceased, our team can offer some options to move forward: Open an estate account, sell and disburse funds via third-party distribution form direct from the decedent account, TOD (transfer on death) accounts can be distributed to the named individual(s) on the TOD upon positive ID validation and death certificate receipt.
How long will it take for the Public account to be transferred?
There are several factors that will affect the timeline of the complete account transfer such as: what option is chosen from the above mentioned, the assets in the account, and size of the account. Typically the transfer can take 3-7 business days. Our team will be in contact with you from beginning to end.
What if my loved one added an international beneficiary for their TOD?
Additional restrictions may apply at the time of distribution for non-US persons that are listed as beneficiaries on a TOD. Public does not do business outside of the US and cannot transfer securities ownership to a non-US person. Once Public is notified of the passing of your loved one they will ask for the documents mentioned above. Once received, we will be able to liquidate the account and wire the funds to the beneficiary.
*Depending on the country of residence of the beneficiary at the time of distribution, additional restrictions may apply.
When you are ready, please contact Member Support via in-app chat or email at support@public.com to receive assistance for this matter.