Trust Accounts at E*TRADE
E*TRADE currently does not offer trust accounts. If you're looking for an alternative, we suggest considering Charles Schwab, one of the largest brokers in the country (more details below).
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Trust Accounts at Charles Schwab
If you have a legally-established trust that needs investment management, it's a good idea to open a brokerage account with a reputable firm. Charles Schwab offers trust accounts to suit various needs. Read on to learn more.
Trust Types
Charles Schwab provides accounts for different types of trusts, including revocable, irrevocable, living, testamentary, and retirement trusts, such as secular and rabbi trusts. Trusts also include defined benefit plans.
It's important to note that Charles Schwab does not create trusts. To open an account, your trust must already be set up with the necessary plan documents. When applying, you'll need to provide a Certificate of Trust or Trust Summary.
Charles Schwab Trust Account
To open a trust account with Charles Schwab, simply
visit the broker's account application page through your web browser. On this page, you'll find several categories listed in the left-hand column. Start by expanding the "Business/Trust" category. For personal trusts like revocable and testamentary trusts, click on "Personal trust." For other types, such as retirement trusts, select "Other tax-exempt trust."
Opening a trust account at Charles Schwab requires some paperwork, so it can't be done entirely online. You can start the process online by visiting the provided link. However, to complete the account opening, you'll need to download the required forms. Click on the relevant account type link mentioned earlier and choose whether you want to receive the forms via email, regular mail, or download them directly.
Once you've downloaded the forms, fill them out and return the documents to the broker. After this, your account will be opened, and you'll be able to log into your new account.
If you have any questions or need help during this process, feel free to contact Charles Schwab. Their new accounts phone number is provided on the application page: 1.800.454.9272.
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Advantages of Trusts
Trust accounts have several key benefits. A trust can help avoid probate, offering more privacy for your loved ones after you're gone. It can also protect your assets during your lifetime, shielding them from lawsuits and creditors. Additionally, it can help reduce gift and estate taxes at both the state and federal levels.
Benefits of Trust Accounts at Charles Schwab
Opening a trust account at Charles Schwab comes with the same advantages as other account types, including $0 trades on stocks, ETFs, and options (with a 65-cent charge per contract).
Trusts can trade the same investments as other accounts, including forex, futures, mutual funds, bonds, and IPOs.
Brokerage Account Review
For more detailed information about the features and pricing of Charles Schwab brokerage for trust accounts and other types of accounts, please visit the
Charles Schwab Brokerage Review »
Updated on 7/19/2024.
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