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TOD |
Also found in: Financial | 0.03 sec. |
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Non-probate transfers include payable on death provisions, transfer on death provisions, beneficiary deeds and the use of beneficiary designations on assets, such as annuities, life insurance policies and Individual Retirement Accounts. Kathleen suggests setting up a Transfer on Death (TOD) on mutual funds that will allow the money to be transferred to a beneficiary. SB 1271 (Ackerman) - This measure permits the use of a Transfer on Death designation for investment accounts so that customers may avoid the expense and delay of probating such assets upon the death of the account-holder. |
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