Can I Name a Beneficiary on my GBI Direct Account?
No beneficiary designation on platform; handled through estate, account type or IRA custodian.
GBI Direct does not have the option to designate a beneficiary for accounts.
However, in the unfortunate event of a person's passing, GBI Direct handles the administration of their account per the necessary documentation required.
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For individual accounts: GBI Direct will default to the estate and will accept instructions from the executor.
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Joint accounts with rights of survivorship: GBI Direct will default to the surviving owner according to the type of joint account chosen. Joint WROS vs Joint TIC
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For entities such as corporations or LLCs: GBI Direct will follow instructions from the executor.
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IRA accounts: GBI Direct will send the funds to the IRA custodian. Beneficiaries can be established through your IRA.
- ***All documentation is reviewed by our legal department.
Please keep in mind that documentation will be required for these accounts, including a valid photo ID for the executor or joint account member, a death certificate, and executor of the estate documentation. If you have any additional questions, please contact us over the phone to talk specifics on your account.