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I need help cashing out a joint mutual fund.?


I own a joint mutual fund with a "former" family member. I would like to conslidate my accounts, therefore it is time to sell the account off. I am the primary on the account. When I do this...will the check come in my name? Or will it come written to both of us? We do not live in the same state at the moment, so this would be rather inconvenient.

If it is a joint account, both signatures will be required on the back of the check. The account belongs to both of you jointly. If you get the joint own to sign over a power of attorney to you then you can cash the check using your power of attorney.

If it is joint it will come in both names most likely. Your bank on investor should be able to assist you in the transaction.

Ask the broker, but the guess is the check will be written out to both of you.

Call the mutual fund company's customer service. They will be able to tell you concretely what they require in order for you to redeem the joint account. (e.g. two signatures or just yours)

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