Both Flourish Cash and Flourish Crypto support two types of Revocable Trust accounts:
- Individual revocable trust accounts, in which the same person is the grantor, trustee and beneficiary
- Joint revocable trust accounts, in which the same two people are the grantors, trustees, and beneficiaries
It’s simple to open a revocable trust account at Flourish:
1. If you are setting up your Flourish login for the first time, you will be able to select the correct account type within the initial sign-up process. If you’ve already set up a Flourish login, simply log in to your account and click “Create New Account” from the main dashboard, then follow the steps on the screen to select the relevant account type.
2. Enter your personal demographic and financial information.
a. If you’re opening a joint revocable trust, your partner can enter their information during the same browsing session, or you can choose to have them enter their information at a later time.
3. You’ll reach a page titled “Please provide the trust information and documentation.” You can optionally choose to enter a Tax ID Number (EIN) for the trust; if you leave this section blank, we will use the Social Security Number of the user opening the account. You will then be able to upload your trust documentation directly on the screen. We accept the following types of documentation:
a. A copy of the title page(s) of the trust document that show the name, date, grantor(s) and trustee(s) of the trust, and fully-executed signature pages of the trust document
b. An executed Certification of Trust, Memorandum or Trust, Affidavit of Trust or Abstract of Trust.
4. That’s it! Once you (and for joint trust accounts, your partner) submit your application, our account opening team will review your application, and will either approve your account or reach out to you for additional information. The review process typically takes 1-2 business days.