Thursday, August 20, 2015

Random thoughts: Do you have a Joint name for your trading account

Do you have one?

Why did I ask?

My MIL told me it is difficult without a will, to pass on the shares to the next of kin, if she passes on. I heard of the trouble before and she told me that all we need is a form.

I ask my broker for advice, and this is what he told me.

It is indeed very troublesome if one passes on without a will.

He told me one way to get around this is to get a joint account for trading.

When I passes on, my wife will have access to all my shares.

I thought this is important, and I will most probably start opening a joint account with her.

I am sure many of us, at certain point of Market, we will have significant amount of cash in equity. What happened if you passes on then? I guess, the amount of cash in equity could be well above 50% of your liquid assets.

We all invest for our loved ones too, one way or another. so perhaps it is time to think about this?

I tried to google for more information, but I really find nothing really useful. There are some pretty good information about will making but not how we handle our CDP shares if we passes on.

If anyone can share a helpful link. It would be most useful.


  1. Joint bank account --> Joint CDP account --> Joint Brokerage account.

  2. yes. except you cant apply for IPO. u can go CDP and pay a fee to transfer from your individual to your joint acct

  3. Very good indeed!
    Joint bank account --> Joint CDP account --> Joint Brokerage account.
    Don't forget CPF must have nomination but not will.

    Especially wify not really interested in "money matters". Only interested how to spend money. But luckily she knows the value of money. Phew!

    Joint/Alt CDP and Brokerage Account - No IPO, No CPFIS, No CUF, ????
    but your wife can operate the account too.
    So CDP & Brokerage allows you to keep your individual accounts for IPO, CPFIS, CUF,...

  4. Hi CW, victor and temperament,

    Thank you for your input. My brokerage told
    Me while it is a joint account, it can be arranged such that the second name of the joint acc have not authority to buy sell without the consent of te first name.

    So maybe one worry less?

    Think I will
    Ask for the forms soon. Lol.

    Touch woods!!

  5. Another way is to do a transfer of estate for the deceased