SIE practice questioneasyIndividual vs. Joint Accounts
If an individual account holder passes away, who has a legal claim to the assets in the account?
- AFINRA
- BThe broker-dealer
- CThe account holder’s spouse automatically
- DThe deceased's estate✓ Correct answer
Explanation
Why D — The deceased's estate
In an individual account, assets are transferred to the deceased’s estate upon death unless a beneficiary is designated. The broker-dealer, spouse (without joint account), or FINRA have no claim.
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