Tenancy by the Entirety for Brokerage Accounts

Most major brokerage firms offer tenancy by the entirety as an account ownership option for married couples in eligible states. The brokerage industry is more accommodating than banks, where TBE disclaimers are common and many institutions refuse to recognize entireties ownership at all.

A brokerage account titled as TBE is protected from the creditors of either individual spouse under Florida common law. An account titled as joint tenants with right of survivorship carries no protection. Both include survivorship rights, and both allow either spouse to manage the account day-to-day. The only difference is creditor protection—and for a family with a $1.2 million portfolio, that means full protection or none.

Why Account Titling Determines TBE Protection

Florida law presumes that jointly held property acquired by a married couple is owned as tenancy by the entirety. The Florida Supreme Court established this presumption in Beal Bank, SSB v. Almand & Associates, 780 So. 2d 45 (Fla. 2001), and the legislature codified a version of it for deposit accounts in Florida Statutes § 655.79.

That presumption can be rebutted when the account form lists TBE as one of several ownership options and the couple selects something else. When a brokerage firm lists both “Joint Tenants with Right of Survivorship” and “Tenants by the Entirety” as separate checkboxes, choosing JTWROS is an affirmative rejection of TBE. The couple has been presented with the option and declined it.

The consequences at a brokerage firm are often more severe than at a bank because brokerage accounts typically hold larger balances. A family that holds $50,000 in checking but $1.2 million at a brokerage has left most of its liquid wealth unprotected if it checked the wrong box on the brokerage application.

The Fourth District Court of Appeal extended the Beal Bank presumption to stock certificates and securities in Cacciatore v. Fisherman’s Wharf Realty Limited Partnership, 821 So. 2d 1251 (Fla. 4th DCA 2002). The court held that a stock certificate jointly titled between husband and wife carried a presumption of TBE ownership, shifting the burden to the creditor.

Which Major Brokerages Offer TBE?

Every major full-service and discount brokerage firm reviewed offers TBE as an account ownership option, though the application process varies widely.

Brokerage	TBE Available	How to Open	Key Limitations
Charles Schwab	Yes	Checkbox on application form	No TOD beneficiary designations on TBE accounts. Recognizes TBE for residents of 16 states.
Interactive Brokers	Yes	Online dropdown during application	Listed alongside JTWROS, Community Property, and Tenants in Common as standard options.
Merrill Edge	Yes	“ATBE” designation code	Transfer on Death agreement references “JT/ATBE” as eligible account type.
Morgan Stanley / E*TRADE	Yes	Account agreement; requires request	Account holders must represent they are lawfully married and reside in a TBE state.
UBS	Yes	Checkbox on application form	One of five joint ownership options on the standard application.
Fidelity	Yes	Paper form; write in “Joint Tenants by Entirety”	Easiest conversion process for existing accounts. Allows TOD beneficiary designations on TBE accounts.
Vanguard	Yes	Phone call only	Cannot convert existing accounts to TBE. Must open new account and transfer assets. No TOD designations. Reported hold times of 45+ minutes. Possible loss of cost basis data during transfer.
Wells Fargo Advisors	Yes	“TEN” designation code; may require request	TBE may not appear as a standard checkbox on initial application.
Edward Jones	Yes	Account Authorization and Agreement Form	Transfer on Death agreement lists “tenancy by the entireties” as recognized joint ownership.
LPL Financial	Yes	Per policy documents	Policy confirms TBE as accepted ownership structure for transfers upon death.

Schwab and Interactive Brokers offer the most straightforward online process—TBE appears as a standard selection during account opening. Fidelity requires a paper form but has the simplest conversion process for existing accounts. Vanguard requires a phone call, does not allow conversion of existing accounts, and has reported hold times exceeding 45 minutes.

Brokerages Where TBE Is Unclear or Unavailable

Two major firms present problems for couples seeking TBE ownership.

Ameriprise Financial appears not to offer TBE. The brokerage account agreement lists joint ownership options as “joint tenants or tenants-in-common” without mentioning TBE. The Change of Ownership Form provides checkboxes for JTWROS, Community Property, Single, and Other, but no TBE option. The deposit account agreement states that all joint accounts are held as JTWROS and that the firm makes no representation about whether the account meets state law ownership requirements. Couples who use Ameriprise should explore whether the “Other” designation can accommodate TBE, or hold their TBE accounts elsewhere.

Raymond James lacks clear documentation. Publicly available account applications, agreements, and disclosure documents do not mention TBE. The account agreement acknowledges that joint ownership laws vary and places responsibility on account holders to verify their chosen registration, but registration options appear limited to JTWROS. Couples considering Raymond James should confirm TBE availability directly before opening an account.

Fintech Platforms: Robinhood, Coinbase, and Webull

Robinhood offers only one joint account type: JTWROS. The Customer Agreement states that JTWROS is the only joint ownership structure available. Joint account types not available at Robinhood include TBE, tenants in common, and community property. For couples who need TBE protection, Robinhood is not suitable for joint accounts.

Coinbase does not offer joint accounts of any kind. The platform enforces a one-account-per-customer policy driven by KYC/AML compliance requirements. Users can link joint bank accounts as a funding source, but the Coinbase account itself is individually owned. TBE ownership is impossible. Estate transfers at Coinbase are handled through a fiduciary process rather than automatic survivorship.

Webull appears to support TBE through its clearing firm relationship with Apex Clearing Corporation. The Webull/Apex Customer Margin and Short Account Agreement references TBE accounts, stating that joint action is required for all matters concerning TBE accounts and that TBE designation is available where state law permits. Webull launched joint accounts in December 2025. TBE is not prominently marketed in Webull’s consumer-facing materials, so couples seeking TBE would likely need to contact Webull directly and request it during the application process.

Apex Clearing is a well-established clearing firm that services numerous brokerages with traditional account titling infrastructure. Fintech platforms that use Apex or similar traditional clearing firms may offer more flexible ownership options than platforms that built proprietary clearing systems from scratch.

Platform	Joint Accounts	TBE Available	Notes
Robinhood	Yes (JTWROS only)	No	Single joint account type. No TBE, TIC, or community property.
Coinbase	No	N/A	One account per customer. No joint ownership of any kind.
Webull	Yes (Dec 2025)	Likely yes	TBE referenced in Apex Clearing agreement. May require direct request.

How to Convert an Existing Account to TBE

Married couples who already have a joint brokerage account titled as JTWROS can convert to TBE at some firms, but the process and difficulty vary.

Fidelity has the simplest conversion process. A letter of instruction requesting a change to “Joint Tenants by Entirety” is typically sufficient. Fidelity is the most practical choice for couples who realize after the fact that their account was titled incorrectly.

Schwab requires a specific form submission along with a separate form deleting any existing beneficiary designations, since Schwab does not allow TOD designations on TBE accounts. The process typically completes within a week.

Vanguard does not allow conversion of existing accounts. Couples must open a new account titled as TBE, then transfer all assets from the old account to the new one. This requires a phone call to initiate, a mailed form to complete the transfer, and may result in temporary loss of cost basis data. Couples should keep independent records of their cost basis before initiating the transfer.

For all other brokerages, couples should contact the firm directly to determine the conversion process. Some may accommodate the change through a title amendment, while others may require opening a new account entirely.

Selecting the wrong ownership type during the original application can permanently disclaim TBE protection for that account under the Beal Bank rule. Correcting account titling errors is possible at some firms but creates unnecessary complexity and risk.

How to Create Valid TBE Ownership

Valid TBE ownership in a brokerage account requires satisfying the six unities recognized under Florida common law: possession, interest, title, time, marriage, and survivorship. For brokerage accounts, the critical requirements are unity of time and unity of title.

Both spouses must be original account holders who opened the account simultaneously. If one spouse opens an individual brokerage account and later adds the other spouse, the unity of time may not be satisfied. The Fifth District Court of Appeal addressed this issue in the Beal Bank litigation itself. A Merrill Lynch account originally opened by one spouse and later amended to add the other was held subject to garnishment because it lacked the unities of time and title.

The safest approach is to open a new joint account with both spouses listed from the outset. For an existing individually owned account, the couple should open a new TBE-designated joint account and transfer the assets rather than simply adding a spouse to the existing account.

When the brokerage form lists TBE as a specific option, select it. When TBE is not listed but the brokerage recognizes it through a write-in or phone request, use that process. When the form lists only JTWROS, do not assume TBE will be presumed—contact the brokerage and ask whether TBE can be designated before completing the process.

Transfer on Death Restrictions

Several major brokerages do not allow Transfer on Death beneficiary designations on TBE accounts. Schwab and Vanguard both prohibit TOD designations for TBE-titled accounts. Fidelity is a notable exception—it permits TOD designations on TBE accounts.

This limitation is less problematic than it might appear. TBE ownership includes an automatic right of survivorship, meaning the surviving spouse inherits the full account regardless of any beneficiary designation. The TOD designation only becomes relevant after the surviving spouse’s death, at which point the account is no longer TBE and can be distributed according to the surviving spouse’s estate plan.

Couples who want both TBE protection during their lifetimes and a TOD beneficiary for the surviving spouse’s eventual estate should consider Fidelity or Merrill Edge, both of which accommodate this combination. Couples who use Schwab or Vanguard can achieve a similar result by updating their wills or establishing a revocable trust to control the disposition of the account after the surviving spouse’s death. TBE ownership and trust-based estate planning interact in ways that affect both creditor protection and inheritance.

Practical Steps for Florida Couples

Open all joint brokerage accounts as TBE from the start. Correcting the title later is possible at some firms but creates unnecessary complexity and risk. Schwab, Interactive Brokers, and Merrill Edge offer the most straightforward TBE application processes.

Review existing joint accounts. If the account form listed both TBE and JTWROS and the couple selected JTWROS, the account is not protected from individual creditors. Contact the brokerage to determine whether conversion is possible, or open a new TBE account and transfer the assets.

Keep a copy of the account application and customer agreement. If a creditor ever challenges TBE status, the account documentation will be the primary evidence. The brokerage’s records of the account title designation should match the couple’s intent.

Avoid Robinhood and Coinbase for joint investment accounts if TBE protection is a priority. Neither platform supports TBE ownership. Webull may offer TBE through its Apex Clearing relationship, but couples should confirm this directly before relying on it.

Florida’s tenancy by the entirety protections extend to virtually every type of jointly titled asset, but the protection only works when the account is properly titled from the outset. Opening a TBE account at a financial institution that does not prominently feature TBE on its application requires additional steps that most couples overlook.