• What types of trusts does Betterment support?

    Last Updated: June 16, 2016 10:53AM EDT
    Betterment supports both revocable and irrevocable trusts that are authorized to invest in securities. In order to open a trust account the trust has to be a U.S. domestic trust, have been previously established, and is in good legal standing.
  • Can Betterment help me create a trust?

    Last Updated: June 16, 2016 10:53AM EDT
    No, Betterment does not help in the creation of a new trust. Trusts are legal entities and require the assistance of an estate attorney or financial planner to file paperwork with the proper authorities. Betterment can open a trust account in the name of a trust that you have already established.
  • Can I have a personal and trust account?

    Last Updated: June 16, 2016 10:53AM EDT
    Yes, you can have both a personal account and multiple trust accounts, all of which can be accessed from a single login.
  • Can I open an IRA or rollover an IRA into a trust account with Betterment?

    Last Updated: June 16, 2016 10:52AM EDT
    No, a trust cannot be the owner of an IRA as IRAs are opened in an individual account. However, you can make your trust a beneficiary of an IRA in a personal Betterment account. This can be done on the Account Settings page of your Betterment account.
  • What documentation does Betterment require to open a trust account?

    Last Updated: June 16, 2016 10:50AM EDT
    Betterment does not require a copy of your entire trust agreement. We require electronic copies of the only following pages:
     
    1. The title page which generally contains the trust’s title, TIN, date of establishment and the state of organization.
    2. ​The signature page(s), which contain the signatures of all authorized trustees.

    Note that Betterment will not accept the following documents in lieu of the original trust agreement:
    • Certificate of Trusts
    • Memorandum of Trusts
    • Affidavit of Trusts
  • How do I open a trust account with Betterment?

    Last Updated: February 14, 2017 5:04PM EST
    In order to open a trust account, you must be the trustee of the trust entity. As a trustee, you will first need to sign up for a personal Betterment account. Once your account has been setup, follow these quick and easy steps to open your trust account:

    1. Log into your Betterment account and click "Add goal or IRA" on the right hand side of the Summary page.
    2. Choose the "Trust" option and follow the prompts
    3. Fill in the form to create a trust account.
    4. Provide electronic copies of the title page and signature page(s) of your trust agreement for account approval.

    ​Once you have provided your trust documentation, our Trust team will reach out to you after they have reviewed and approved your account. After your account has been approved, you will be able to link your trust’s bank account, add goals, and start investing better.

    See “What documentation does Betterment require to open a trust account?” for more details.
  • Does Betterment support multiple trust accounts?

    Last Updated: June 16, 2016 10:50AM EDT
    Yes, you can add multiple trusts to your Betterment account and access all of them from a single login.
  • Can multiple trustees access the trust account?

    Last Updated: June 16, 2016 10:50AM EDT
    Yes, if there are multiple trustees, each trustee can access the trust account with his or her own login. If you would like to provide access to multiple trustees, please contact us at trusts@betterment.com or 888-428-9482 and we will be happy to assist.
  • Can the grantor or beneficiary of a trust access the account?

    Last Updated: June 16, 2016 10:50AM EDT
    No, at this time we only provide access to the authorized trustees of a trust.
  • Can I convert my personal account to my trust?

    Last Updated: June 16, 2016 10:49AM EDT
    Betterment can assist with an asset transfer between your personal account to your trust account so long as the EIN associated with your trust is identical to the Social Security number of the personal account owner. If you'd like to proceed, please send us an e-mail at trusts@betterment.com.
  • Is the portfolio different for trust accounts?

    Last Updated: June 16, 2016 10:49AM EDT
    No, the portfolio is the same portfolio of ETFs that we offer personal Betterment accounts.
  • Does Betterment provide tax statements for my trust account?

    Last Updated: June 16, 2016 10:48AM EDT
    Yes. Every tax year Betterment will generate and make available to you the required 1099-B and 1099-DIV tax forms for the TIN or SSN of the trust. If you have a personal and trust account, you will receive separate tax forms for each of those accounts. Your personal account may also contain a 1099-R or 5498 form if you have IRAs.

    ​Learn more about taxes here.
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