Which Brokerage Firms Offer Tenancy by the Entirety Accounts?

The majority of major US brokerage firms do offer tenancy by the entirety (TBE) accounts, though availability, documentation clarity, and application processes vary significantly.

Of the 13 major brokerages examined, 11 explicitly offer or recognize TBE accounts, one (Ameriprise) appears not to offer them, and one (Raymond James) lacks clear documentation.

Unlike banks—where TBE disclaimers are common—the brokerage industry generally accommodates this asset protection structure for married couples in eligible states.

For couples seeking creditor protection through tenancy by entirety ownership, the brokerage landscape is notably more favorable than banking. However, the application process requires careful attention: selecting the wrong joint account type (such as JTWROS instead of TBE) may legally disclaim TBE protection even in states where the presumption would otherwise apply.

I conducted a review of account applications, customer agreements, and official documentation from 13 major US brokerage firms, supplemented by legal resources and court documents addressing tenancy by the entirety provisions.

Brokerages with Explicit TBE Offerings

Charles Schwab provides the clearest, most user-friendly TBE option among major discount brokers. Their Schwab One Account Application lists TBE as one of six ownership options with a dedicated checkbox: “☐ Tenants by the Entirety†” with the footnote “†This type of registration may not be available in your state.” Schwab explicitly recognizes TBE for residents of 16 states: Alaska, Delaware, Florida, Hawaii, Maryland, Massachusetts, Michigan, Missouri, New Jersey, Oklahoma, Pennsylvania, Rhode Island, Tennessee, Vermont, Virginia, and Wyoming. One significant limitation: Schwab does not allow Transfer on Death (TOD) beneficiary designations on TBE accounts.

Interactive Brokers offers the most seamlessly integrated TBE option, listing “Tenancy by the Entirety” as one of four standard joint account types directly in their online application flow alongside JTWROS, Community Property, and Tenants in Common. Their glossary explicitly defines TBE as “a form of ownership where the owners are married and each spouse has an equal and undivided interest in the property.” The application prompts users for their State of Legal Residence to determine available ownership types.

Merrill Edge (Bank of America) explicitly offers TBE using the designation code “ATBE” (As Tenants by Entirety). Their Client Relationship Agreement lists eligible joint account designations including “ATBE — As Tenants by Entirety (for married persons, only in states where applicable).” Their Transfer on Death Agreement also references “Joint as Tenants by Entirety (JT/ATBE)” as an eligible account type.

Morgan Stanley (including E*TRADE) provides detailed TBE provisions in their Client Agreement effective August 2025. The agreement states: “If you request that Morgan Stanley establish your Self-Directed Account as a Joint Tenants by the Entirety account and we comply with your request, it is with the understanding and your representations that (a) you are lawfully married to each other and (b) you maintain your residence in a state permitting intangible property to be owned as tenants by the entirety.” The Active Assets Account Application explicitly lists “Tenants by the Entirety (for married couples in certain states)” as a joint ownership option.

UBS offers TBE as one of five joint ownership options on their account application. Court documents from a U.S. Bankruptcy case confirm that UBS applications provide checkboxes for “community property, tenants by entirety, joint tenants with rights of survivorship, tenants in common, and joint community funds.”

Brokerages Requiring Special Processes for TBE

Fidelity supports TBE accounts but does not list them as a standard online option. The Fidelity Account Customer Agreement confirms coverage for “joint tenants with rights of survivorship and tenants by the entirety.” To open a TBE account, customers must use the paper “Non-Retirement Brokerage Account” form, selecting “Other non-trust account” and writing in “Joint Tenants by Entirety.” Notably, Fidelity does allow TOD beneficiary designations on TBE accounts—unlike Schwab and Vanguard. Existing accounts can be converted via letter of instruction, making Fidelity the easiest of the major brokerages for TBE conversion.

Vanguard offers TBE accounts but requires a phone call to open them—no online option exists. During the call, Vanguard verifies that the customer’s state recognizes TBE before proceeding. Accounts are titled as “Tenants by entirety with right of survivorship (TEN ENT WROS).” Critical limitations apply: existing accounts cannot be converted to TBE (customers must open new accounts and transfer assets), and Vanguard does not allow beneficiary designations on TBE accounts. Users report extended hold times (45+ minutes) and potential temporary loss of cost basis data during transfers.

Wells Fargo Advisors lists TBE using the code “TEN” (Tenants by Entirety) on official forms including stock transfer requests. Their educational materials explain that “tenancy by the entirety is similar to joint tenancy, but it can only be created between husband and wife” and is “only recognized in certain states.” However, TBE may not appear as a standard checkbox on initial brokerage account applications and may require specific request or documentation.

Edward Jones recognizes TBE accounts, as confirmed in their Transfer on Death Agreement which explicitly lists “tenancy by the entireties” as a recognized form of joint ownership with survivorship rights. The agreement states that for accounts owned jointly with survivorship rights including “tenancy by the entireties,” no beneficiary becomes entitled to assets until death of the last surviving account owner. The Account Agreement allows clients to select their “form of ownership and survivorship” on the Account Authorization and Agreement Form.

LPL Financial confirms TBE account availability in their Notice of Changes Relating to Distributions Upon Death, which states: “LPL may transfer assets to surviving account holders who have a right of survivorship under applicable law, including accounts held in joint tenancy with rights of survivorship or in tenants by the entirety.” This policy document confirms TBE as an accepted ownership structure.

Brokerages where TBE availability is unclear or unavailable

Ameriprise Financial appears not to offer TBE accounts. Their Brokerage Client Agreement lists joint ownership options as only “joint tenants or tenants-in-common” without mentioning TBE. The Change of Ownership Form provides options for JTWROS, Community Property, Single, and Other—but no explicit TBE checkbox. Their Bank Deposit Account Agreement states: “All joint Accounts are held as joint tenants with right of survivorship, and we make no representation to whether your joint Account will meet the ownership requirements under applicable state law.” Customers seeking TBE protection should likely look elsewhere or contact Ameriprise directly to explore whether “Other” could accommodate TBE.

Raymond James lacks clear documentation of TBE availability. Extensive searches found no mention of TBE in publicly available account applications, client agreements, or disclosure documents. The Client Agreement mentions that “laws governing joint ownership of property vary from state to state” and that clients are “responsible for verifying that the joint registration you select is valid in your state,” but registration options appear limited to JTWROS by default. Customers should contact Raymond James directly to inquire.

States Where TBE Applies to Brokerage Accounts

TBE protection for personal property, including brokerage accounts, varies significantly by state. The states that clearly recognize TBE for both real and personal property (including financial accounts) include:

• Alaska, Arkansas, Delaware, Florida, Maryland, Pennsylvania, Wyoming, and the District of Columbia

Many additional states recognize TBE only for real estate, not personal property. States including Hawaii, Massachusetts, Michigan, Missouri, New Jersey, Oklahoma, Tennessee, Vermont, and Virginia have varying interpretations. Your legal counsel should verify the current status in these jurisdictions.

Florida provides particularly strong TBE protection, with a statutory presumption that joint marital accounts are TBE unless explicitly disclaimed. This means even where a brokerage form doesn’t offer TBE as an explicit option, Florida residents may benefit from TBE protection—unless the account agreement contains language explicitly disclaiming TBE ownership.

Critical Considerations When Opening TBE Accounts

The most important factor in securing TBE protection is explicit designation. When a brokerage application offers both TBE and JTWROS options, selecting JTWROS legally disclaims TBE protection—even in states where TBE would otherwise be presumed.

TOD beneficiary restrictions apply at several major brokerages. Schwab and Vanguard do not allow Transfer on Death designations on TBE accounts, while Fidelity does. This creates estate planning considerations, though the survivorship feature of TBE means the surviving spouse automatically inherits the account regardless of TOD designations.

The “four unities” requirement (time, title, interest, and possession) must be satisfied for valid TBE ownership. Opening a new account with both spouses as original owners clearly satisfies these requirements. Converting an existing individually-owned account to TBE may create legal questions about whether the unity of time requirement is met.

Comparison summary

About the Author

Gideon Alper is a nationally recognized asset protection attorney and a former attorney for the IRS Office of Chief Counsel. He specializes in structuring compliant Cook Islands trusts and Nevis LLCs that withstand federal scrutiny. A graduate of Emory University Law School (J.D. with Honors), Gideon combines 15+ years of private practice with deep insider knowledge of federal tax procedure. He designs strategies that improve protection while maintaining strict adherence to state law and U.S. tax laws. Gideon advises business owners, professionals, and their families on how to legally secure wealth.