Series 24: Transfer On Death (TOD) Accounts

Taken from our Series 24 Online Guide

Transfer on Death (TOD) Accounts

A TOD account is an individual account in which a beneficiary manages the account upon the individual’s death without having to go through probate. The beneficiary will not have to provide a will, only a death certificate, to have the assets transferred to the beneficiary; however, the beneficiary must have power of attorney for the client. While the assets do not go through probate, they will be subject to taxation.

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