What is a Custodial Account?
An investment account for taxable money (personal savings, corporate savings, or trust funds) which allows investors to buy and sell alternative investments that are not traditionally offered by other custodians.
Benefits of a Custodial Account?
- A home for your taxable money to efficiently allocate to alternative investments.
- Tools to bring your investments online and process paperwork electronically
- Historical database of all account activity and investment performance
- Safekeeping of investment documents
- Cash management
Accountholders have the flexibility to invest in alternative investment vehicles not traditionally offered by other custodians.
Types of Alternative Investments
Types of Taxable Accounts Offered at Midland
- Joint Tenants with Rights of Survivorship: All account owned assets are transferred from the deceased account holder to the surviving account holder.
- Tenants in Common: Account owned assets are transferred to the deceased accountholder’s designated beneficiary(ies).
- Tenants by Entirety: Only in allowable states. Any change in ownership of assets of one account holder requires the consent of both account holders. All account owned assets are transferred from the deceased account holder to the surviving account holder.
Step 1: Open a Midland Account
Click here to open a taxable account (not for IRA accounts)
Accountholder must supply pen-signed documents, a copy of their driver’s license, and a copy of their account statement.
Step 3: Make the Investment
Your Midland account representative will contact you directly to guide you through your investment transaction.