Joint Account

A joint account is a bank or brokerage account shared between two or more individuals. It can be established in multiple ways, each with its own implications.

A joint account is a bank or brokerage account shared between two or more individuals. It can be established in multiple ways, each with its own implications.

Overview

A joint account is a bank or brokerage account shared between two or more individuals. It can be established in multiple ways, each with its own implications. How it is structured determines how money or assets can be accessed, or how the contents of the account are handled after one of the joint holders passes away.

Details

A Joint Tenants with Right of Survivorship (JTWROS) account, which has two or more account owners, with each person having an undivided interest in the entire property. Upon the death of one account owner, the remaining account holder(s) retain(s) the rights to the entire account.

There is also a Tenants in Common (TIC) account, which has two or more account owners with each person owning a specified percentage of the entire property. Upon the death of one of the account owners, that person’s estate holds the right to their percentage of the account. Non-resident aliens are not eligible for this account type.

If you are unsure which type is right for your specific situation, contact us and we’ll guide you through the entire process.

Benefits

Tax advantages

  • Earnings grow tax-deferred
  • Distributions are tax-free
  • Gift and estate tax benefits

Minimum Investment

Account Minimums and Fees:

  • No income limitations
  • Contributions must be made in cash
  • Each state can establish their own minimums and maximums

Next Steps

If you know which account is right for you, open an account and complete the application. If you prefer to speak to us first, please schedule some time to discuss your investment goals and objectives.

Overview

A joint account is a bank or brokerage account shared between two or more individuals. It can be established in multiple ways, each with its own implications. How it is structured determines how money or assets can be accessed, or how the contents of the account are handled after one of the joint holders passes away.

Details

A Joint Tenants with Right of Survivorship (JTWROS) account, which has two or more account owners, with each person having an undivided interest in the entire property. Upon the death of one account owner, the remaining account holder(s) retain(s) the rights to the entire account.
There is also a Tenants in Common (TIC) account, which has two or more account owners with each person owning a specified percentage of the entire property. Upon the death of one of the account owners, that person’s estate holds the right to their percentage of the account. Non-resident aliens are not eligible for this account type.

If you are unsure which type is right for your specific situation, contact us and we’ll guide you through the entire process.

Benefits

Tax advantages

  • Earnings grow tax-deferred
  • Distributions are tax-free
  • Gift and estate tax benefits

Education Savings Accounts

Account Minimums and Fees:

  • No income limitations
  • Contributions must be made in cash
  • Each state can establish their own minimums and maximums

Next Steps

If you know which account is right for you, open an account and complete the application. If you prefer to speak to us first, please schedule some time to discuss your investment goals and objectives.
Overview

Overview

A joint account is a bank or brokerage account shared between two or more individuals. It can be established in multiple ways, each with its own implications. How it is structured determines how money or assets can be accessed, or how the contents of the account are handled after one of the joint holders passes away.
Details

Details

A Joint Tenants with Right of Survivorship (JTWROS) account, which has two or more account owners, with each person having an undivided interest in the entire property. Upon the death of one account owner, the remaining account holder(s) retain(s) the rights to the entire account.
There is also a Tenants in Common (TIC) account, which has two or more account owners with each person owning a specified percentage of the entire property. Upon the death of one of the account owners, that person’s estate holds the right to their percentage of the account. Non-resident aliens are not eligible for this account type.

If you are unsure which type is right for your specific situation, contact us and we’ll guide you through the entire process.

Benefits

Benefits

Tax advantages

  • Earnings grow tax-deferred
  • Distributions are tax-free
  • Gift and estate tax benefits

Minimum Investment

Education Savings Accounts

Account Minimums and Fees:

  • No income limitations
  • Contributions must be made in cash
  • Each state can establish their own minimums and maximums

Next Steps

Next Steps

If you know which account is right for you, open an account and complete the application. If you prefer to speak to us first, please schedule some time to discuss your investment goals and objectives.

Galleon Trust and Estate

Your legacy transcends money — it also encompasses your values. Your wishes and dreams may include using your assets to help secure your family’s future or you may choose to support another cause close to your heart. This might be your favorite charity, your community or your place of worship, to name a few.

Galleon Flagship Estate Account

Your legacy transcends money. It encompasses your values. Your wishes and dreams may include using your assets to help secure your family’s future or you may choose to support…

Galleon Flagship Trust Account

A Trust account allows the account owner to transfer assets to one or more recipients, called trustees, who hold legal title to the transferred assets and manage…

Life Events

Whether you’re getting married, having a baby, saving for college, reaching retirement, reaching a major milestone, or going through a major life event, you need to plan for it. Galleon Financial Planning works closely with each client to develop a plan that makes sense.

NAVI GA TE

A weekly email from Global Advisers about economic and political trends shaping markets, industries, and the global economy.