Aug 28 • General discussion
IF you trade OR planning to trade👇🏽
- Foundation must be in place
- Your revocable living trust (RLT) should already be created.
- All bank accounts should be retitled in the name of the trust before moving to brokerage setup.
2. Brokerage limitations
- Platforms like Robinhood and Webull do not allow brokerage accounts to be directly titled in the name of a trust.
- Because of this, you need to put paperwork in place that ensures the account is still controlled by the trust
3. Security Agreement
- Draft a security agreement between the trust and the trustee (you).
- This agreement documents that although the brokerage account might remain in your personal name in the broker’s system, it is legally considered trust property.
4. Profits management
- All trading profits belong to the trust, not you personally.
- Profits should be directed into the trust principal, not distributed casually to yourself.
- The trustee(s) or the trust itself should manage funds, not you acting in an individual capacity.
5. Cash flow rule
- Whenever possible, have profits flow into the trust’s bank account or through trustees with records showing it is trust income.
*This maintains the chain of ownership and avoids mixing personal and trust assets.
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IF you trade OR planning to trade👇🏽
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