IBKR offers four types of joint accounts, each which accommodates two account holders. Upon death of any or both joint holder(s), the surviving holder or relevant party handling your estate is required to provide IBKR with notice of the death and documents, as required.
The disposition of the account in the event of the death of one of the account holders varies by account type and will generally require the opening of a new individual account to transfer the assets:
- Tenants with Rights of Survivorship: the account reverts to the surviving account holder on the death of the other.
- Tenancy in Common: the deceased person's share will pass to their heirs through a will or through the probate process rather than to the surviving account holder.
- Community Property: the account reverts to the surviving account holder on the death of the other unless there is a valid will that directs the disposition of the deceased holder’s half otherwise.
- Tenancy by the Entirety: the account reverts to the surviving account holder on the death of the other.
Additional Information