eTrade joint account setup options

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bogleraw
Posts: 82
Joined: Fri Jun 01, 2012 11:47 am

eTrade joint account setup options

Postby bogleraw » Wed Apr 19, 2017 9:08 pm

Hi all,

I have an employer stock plan with eTrade and live in California. I want to add my wife, who works for a different employer, to the account. My goal is for her to have full access to the funds at any time and be able to ask any questions she has about it whether I am alive or not. However, I am confused about what box to check on the options for joint account:
1) Rights of survivorship - if one owner dies, his/her interest passes to surviving owners
2) Tenancy in Common - if one owner dies, his/her interest passes to his/her estate
3) Community property - Equal ownership for married couples in AZ, CA, ID, LA, NV, NM, TX, WA, WI and PR.

In my mind, I should pick option 1. But I am confused about whether I should pick option 3 instead. Option 2 seems irrelevant based on my goal above. Which option would you select and why?

Thanks!

dbr
Posts: 21758
Joined: Sun Mar 04, 2007 9:50 am

Re: eTrade joint account setup options

Postby dbr » Thu Apr 20, 2017 8:46 am

I am not at all sure about this, but does the concept of joint account even apply to an account set up for you by your employer as part of a stock purchase plan. Your wife is not an employee of that company. That might suggest POD/TOD is the only option that could be allowed. Also, you may be under agreements with your employer, aka terms and conditions of the stock purchase plan, that affect how those assets are handled in case of your death, your termination from employment, etc.

I am just asking.


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