Account Registration

A marital property ownership system used in 9 U.S. states (Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, Wisconsin) where assets acquired during marriage are owned 50/50 by both spouses. At death of either spouse, the deceased spouse's half receives a step-up in basis, and in community property states, both halves receive a step-up in basis (double step-up benefit). Property acquired before marriage or by gift/inheritance remains separate property.

Example: A married couple in California (community property state) purchases stock during marriage for $100,0...

A form of joint account ownership where each owner has equal ownership rights and the account automatically transfers to the surviving owner(s) upon death of any owner. Either party can execute trades independently, but disbursements (withdrawals/checks) must be made payable to all owners. Avoids probate but does not reduce estate taxes (the deceased owner's share is included in their taxable estate).

Example: A married couple opens a JTWROS brokerage account with $200,000. Each spouse owns 100% of the accoun...

A form of joint ownership where each owner holds a fractional, undivided interest in the account. Ownership percentages can be unequal (e.g., 60/40). NO right of survivorship: when one owner dies, their share passes to their estate, not to surviving co-owners. Probate is required for the deceased owner's share.

Example: Three siblings inherit a property as tenants in common with unequal shares (50%, 30%, 20%). When the...

An account owned by a trust (a legal entity created by a trust document), managed by a trustee who has fiduciary duty to manage assets for the benefit of beneficiaries. The trustee controls the account and makes investment decisions governed by the trust document and prudent investor standards, while beneficiaries are the ultimate owners entitled to the trust assets.

Example: A revocable living trust establishes a brokerage account with ABC Investment Advisers. The trust doc...