Trust Accounts at E*TRADE
E*TRADE does not offer trust accounts at this time. As alternative, we recommend one of the largest brokers
in the country called Charles Schwab (read below).
Open Charles Schwab Account
Get $0 commissions + satisfaction guarantee at Charles Schwab.
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Trust Accounts at Charles Schwab
If you're in possession of a legally-established trust that requires investment of its assets, it
is highly recommended to open a brokerage account with a reliable firm. Charles Schwab provides
trust accounts to cater to various situations. Read on to discover more.
Trust Types
Charles Schwab offers accounts for different trust types, including revocable, irrevocable, living, testamentary, and retirement trusts, such as secular and rabbi trusts. The definition of trust also encompasses defined benefit plans.
It is important to note that Charles Schwab does not sponsor trusts. To be eligible, a trust must already be established with plan documents. When applying for an account, the broker will request a Certificate of Trust or Trust Summary.
Charles Schwab Trust Account
To open a trust account with Charles Schwab, simply
visit the broker-dealer's account application page through your web browser. On this page, you will find several categories listed in the left-hand column. Begin by expanding the "Business/Trust" category. For personal trusts like revocable and testamentary trusts, click on "Personal trust." For other trust types such as retirement trusts, select "Other tax-exempt trust."
Opening a trust account at Charles Schwab requires some paperwork, so it cannot be completed entirely online. You can initiate the process online by visiting the provided link. However, to finalize the account opening, you will need to download the necessary paperwork. To do so, click on the relevant account type link mentioned earlier and indicate whether you prefer to receive the forms via email, regular mail, or if you wish to download them.
Once you have downloaded the forms, you will need to provide the required information and send the documents back to the broker. Once this step is completed, your account will be opened, and you will be able to log into your new account.
Should you encounter any questions or require assistance during this slightly bureaucratic process, do not hesitate to contact Charles Schwab. The broker's new accounts phone number is provided on the application page: 1.800.454.9272.
Free Charles Schwab Trust
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Advantages of Trusts
Trust accounts offer several notable advantages. A trust helps bypass the probate process, allowing for increased privacy for your loved ones after your passing. Additionally, a trust can safeguard your assets during your lifetime, protecting them from lawsuits and creditors. Furthermore, it can reduce gift and estate taxes at the state and federal levels.
Benefits of Trust Accounts at Charles Schwab
Opening a trust account at Charles Schwab grants you the same benefits as other account types. These benefits include $0 trades on stocks, ETFs, and options (with a charge of 65 cents per contract).
Trusts can engage in trading the same investments as other accounts, including forex, futures, mutual funds, bonds, and IPOs.
Brokerage Account Review
To delve into comprehensive details regarding the exceptional features and pricing offered by Charles
Schwab brokerage for trust accounts and other types of accounts, please visit the
Charles Schwab Brokerage Review »
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