A Few Facts About The...

TOD SECURITY REGISTRATION ACT

PURPOSE:
This act provides for transfer-on-death (TOD) investment securities stocks, bonds, mutual fund shares, security accounts, and the like. Such securities can be transferred on death to named beneficiaries. The transfers, like pay-on-death deposit accounts, are nontestamentary and do not fall into the probate estate of the deceased holder of these securities. A whole new echelon of property can be kept out of the probate estate, therefore, and estate planning for the purpose of avoiding probate becomes easier.

ORIGIN:
Completed by the Uniform Law Commissioners in 1989.

ENDORSED BY:
American Bar Association
American Association of Retired Persons
Securities Industry Association