Robinhood and Beneficiaries

[jnw]

Robinhood doesn't allow for beneficiary designation.  Rather than having to wait through the probate process for my heir(s) to get the assets in the Robinhood account, is it possible the account could be put into a trust, like my home, to avoid the probate process?

[Sibley]

Probably. However, why don't you just ditch Robinhood? They're not that special, why add the complications of a trust when you don't need to?

[jnw]

Probably. However, why don't you just ditch Robinhood? They're not that special, why add the complications of a trust when you don't need to?

That would require selling the stocks and realizing gains right?  Whereas if it was inhertied, the cost basis is reset.  I am getting my trust setup soon anyways, for the home.  Just wondering if I could add the Robinhood account.

[Morning Glory]

You can transfer your stocks to another brokerage without selling (I think the partial shares will get sold but it won't be that much). Some of them even give bonuses.

https://www.doctorofcredit.com/best-brokerage-bonuses-earn-up-to-3500/

[nereo]

You can transfer your stocks to another brokerage without selling (I think the partial shares will get sold but it won't be that much). Some of them even give bonuses.

https://www.doctorofcredit.com/best-brokerage-bonuses-earn-up-to-3500/

Do this. No need to remain with Robinhood unless you really want to

Also, how much capital gains are you talking about? A third (and highly effective) strategy is simply to realize some of your LTCG each year as headspace on your taxes allow.