Self-Directed CESA accounts through Equity Trust

[Theresa Nguyen]

I'm lending hard money to a lady whom I met in my REIA chapter via a self-directed CESA, and the custodian of that account is Equity Trust. The purpose of doing this is to build up this account enough so that I can buy a property for each kid. I have three kids.

At this time, I have only one account with them for my oldest child. This lady said that I need to open two additional accounts with Equity Trust so that there is one account for each child. I’m reticent because Equity Trust charges me a maintenance fee of $75 per year, and I want to keep my costs as low as possible.

Can’t I just have one large account that I super fund the account I already opened with $18,000 instead of fund three accounts with $6,000 each? What is your opinion on this?