Joint Acct Question

[listedguru]

Say I am looking to set up a retail trading acct with a firm and I'm not married... Do you know if you can name a beneficiary for that account or set-up a joint acct but have the tax situation only affect me? I would like the money in the account to go to someone in the event of a tragedy. How is the done?

-Guru

 

[jwcapital]

Quote from listedguru:

Say I am looking to set up a retail trading acct with a firm and I'm not married... Do you know if you can name a beneficiary for that account or set-up a joint acct but have the tax situation only affect me? I would like the money in the account to go to someone in the event of a tragedy. How is the done?

You should speak with an estate attorney. I am not a lawyer, nor am I practicing law by giving you some ideas. Easiest way: set up an individual account for yourself and name the significant other, in your will, as an heir to that account.

 

[jeb9999]

When you open the account you should be able to name a beneficiary or set up a transfer on death (TOD) naming a beneficiary.