Tenants in Common
If one of the tenants dies, his interest will pass to his estate and not to the other joint owner.
Individual Accounts
Accounts opened for one person only.
529 College Plans
Established and maintained by States and allow individuals to set up plans to pay for student's qualified higher education expenses with tax-free withdrawals for qualified educational expenses.
Transfer on Death (TOD)
Upon the death of an individual investor, or the last surviving account owner in a joint account, the assets in the account are passed on to beneficiaries according to the written TOD agreement, thus eliminating the need for probate.
Cash Account
Requires the customer to pay cash in full for all securities purchased in account.
Trust Accounts
A trust is an arrangement in which property is managed by one person for the benefit of another person.
Coverdell and Education Savings Accounts
Tax-exempt accounts for the qualified education expenses of a designated beneficiary to pay for education expenses.
Pre-Paid Tuition 529 Plans
allow anyone to establish an account in the name of a beneficiary and "lock in" the cost of a specific number of academic periods or units at current prices for use in the future by the beneficiary.
Joint Tenants with Rights of Survivorship (JTWROS)
Account for two or more people. Upon the death of either party, the surviving tenant becomes the sole owner of the securities.
Coverdell - Education Savings Accounts Contribution Limits
Contributions must be in cash and are limited to $2,000 per year per beneficiary. Contributions are not tax deductible. Eligibility is phased out for taxpayers with certain levels of modified AGI.
Uniform Gift to Minors Act (UGMA)
Uniform Transfer to Minors Act (UTMA)
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