You can give any of your accounts a nickname up to 20 characters long. If your bank allows it, naming a beneficiary is simple . With Chase, you can add an authorized user online or over the phone. Managing Editor, Global Data and Automation for Forbes Advisor. (JPMCB). And, not all banks allow this option. There are some steps that you can take to help your heirs avoid complications when you die. They simply need to go to the bank with proper identification and a certified copy of the death certificate. In addition, J.P. Morgan has an incentive not to sell or withdraw portfolio assets from a J.P. Morgan Fund to avoid or delay the sale or withdrawals adverse impact on the fund. A large sale or redemption could also significantly reduce the assets of the fund, causing decreased liquidity and, depending on any applicable expense caps, a higher expense ratio or liquidation of the fund. Authorized signers must be removed in writing; the authorized signer cannot be removed himself. In addition, it is a contractual agreement between the bank and the account holder that the proceeds are to be paid to the named beneficiary regardless of what the will says. A common way for a bank to discover that an account holder has died is for the family to inform the bank. Moreover, choosing a beneficiary is required to open some bank accounts. Cdtfa-401-a Instructions, Note: Some retirement accounts or plans may require spousal consent (e.g., profit sharing, self-employed, 401(k), Keogh) before you can add or change the beneficiary. The offers that appear on this site are from companies that compensate us. (Note: This change is allowed but not required.). So, whether youre reading an article or a review, you can trust that youre getting credible and dependable information. Performance information may have changed since the time of publication. Online Investment Accounts Maintenance | FAQs | Chase.com Investing involves market risk, including possible loss of principal, and there is no guarantee that investment objectives will be achieved. I was on most of her bank accounts, but when I was cleaning up her estate, I found this one account that she had not named a POD or TOD, says Nicole Rosen, who owns the tax advisory firm Boundless Advisors.