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TD Ameritrade Joint Tenants in Common Account (2021)


Review of TD Ameritrade Joint Tenants in Common: pros and cons, account fees, rating, minimum, investing options and commissions.



Opening a Joint Tenants in Common Account with TD Ameritrade


If you and a partner want to open a brokerage account together, TD Ameritrade has several joint accounts to choose from. One popular choice is the Joint Tenants in Common account. Here are the details:


Overview of Joint Tenants in Common


The Joint Tenants in Common account is ideal for at least 2 people. It’s possible to open the account with 3 or more owners listed.

The legal framework for the Joint Tenants in Common account is fairly straightforward. If you think of the account as one pie, it is divided into slices. The number of slices equals the number of account holders.

If you have four account holders, there are four slices. They all have to add up to 100%. But each slice doesn’t have to be 25%. The Pie could be divided into 40%, 30%, 15%, and 15%. The percent of the account owned by each individual is spelled out in the account application.

If one account owner passes away, the other parties don’t get his assets. Instead, they go to his estate and are distributed according to law.

Nonresident aliens cannot open a Joint Tenants in Common account.


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Joint Tenants in Common with TD Ameritrade


At TD Ameritrade, a Joint Tenants in Common account comes with the exact same commission plan as all the other accounts the brokerage firm offers. There is no annual fee for the account; and even better, there are no inactivity charges or low-balance fees.

A Joint Tenants in Common account can also trade the same assets as other accounts at TD Ameritrade. The smorgasbord is quite large: currencies, futures, option contracts, equities, ETF’s, closed-end funds, mutual funds, and fixed-income securities.

Besides all the self-directed investment options, the Joint Tenants in Common account can be set up as a managed account. This means that TD Ameritrade investment advisors will make all trading decisions in the account for a small fee. Both human and robo advisors are available.


Ameritrade Joint Tenants in Common


Opening the Account


To open a Joint Tenants in Common account, you simply need to head over to TD Ameritrade’s user-friendly online form and fill out the necessary fields. Note that if there will be more than 2 account owners, you have to submit a paper form instead.


Additional Joint Accounts at TD Ameritrade


If you don’t’ care for how assets are distributed in the Joint Tenants in Common account, you should check out the other joint accounts available to TD Ameritrade clients.

For instance, there is the Joint Tenants with Rights of Survivorship account. With this one, all account holders own 100% off account assets. It’s not a fractional split. If one account owner dies, his share remains in the account for the other account holders.

Louisiana residents are left out in the cold with this one because their state government doesn’t recognize Joint Tenants WROS accounts.

Married couples can open a Joint Community Property account or a Joint Tenants by the Entirety account.


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$0 commissions + transfer fee reimbursement.

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