Granting Account Rights

Any member may grant any other member certain account rights as either a Joint Tenant, Beneficiary or Agent. To do so, simply click "Update Info" on the My Account Info tile after logging in. Then enter the other UPMA™ member's email address and desired role in the right-hand pane and click "Add Interest". You may add and delete Beneficiaries and Agents at will, but Joint Tenants, once added, can only be removed by calling 888.210.8488 and providing the requested documentation.

  • A Joint Tenant enjoys rights equal to that of the primary account holder and superior to any other person (including beneficiaries), both during and after the primary account holder's life.
  • A Beneficiary is entitled to inherit a specified percentage of the account upon the primary account holder's death, assuming no Joint Tenant exists. A valid death certificate is required before transfer of funds to a beneficiary's account.
  • An Agent may take any authorized action with respect to the account on behalf of the account owner(s), but holds no beneficial interest in the account. The agent's scope of authority may be set forth in an executed power of attorney or trust document. If no such document exists, then the terms of the UPMA Default Agent Agreement apply.

 

Only existing UPMA members can be granted the above account interests. However, the interest holder's account does not need to be funded to be considered valid.