What happens to my investments if I pass away?

When an individual passes away, the fate of their investments depends on a few key factors, such as the ownership structure of the investments and estate planning documents in place. Generally, if the investments are held in the individual's name alone, they will become part of the deceased's estate and will be distributed according to the provisions of their will, if one exists. If there is no will, the distribution will follow the intestacy laws of the jurisdiction in which the individual resided. It is important to note that certain types of accounts, such as registered accounts with designated beneficiaries, may pass directly to the named beneficiaries without going through the probate process. This can allow for quicker access to the funds for those beneficiaries. Additionally, if the investments are held within a trust, the terms of that trust will dictate what happens to the investments upon the individual's death. To ensure that investments are allocated according to personal wishes, it is advisable for individuals to review their estate planning regularly. For detailed guidance or assistance with specific situations, exploring the resources available on the official IGM Financial website may be beneficial.