You and your brother have decided to invest in the stock market together.You will put in $5,000 each and open a single account at a brokerage.How should the ownership of this account be established if both of you wish the other to keep all the money in the event that the other should die?

Question

Quizplus · Accepted Answer

Joint tenancy with the right of survivorship is the best choice. This means that both parties own an equal share of the account and in the event of one person's death, the other person will inherit the entire account without it being subject to probate. This fulfills the requirement of both parties wishing for the other to keep all the money in the event of death.

You and Your Brother Have Decided to Invest in the Stock