Glossary - Transfer on Death (TOD)

t

Transfer on Death (TOD)

Transfer on death generally applies to investments and brokerage accounts. If there is a transfer on death designation, the assets pass to the person and/or organization designated by the original owner. Because the assets pass outside of a will, the assets are like nonprobate assets and might not be subject to designations in a will or estate taxes.

Executor.org

FREE
VIEW