Gordon L. Nelson, CPA, CFP® is a planned giving specialist. Want to get your questions answered? Write him or call him at 435.213.9986.
August 2024
Sarasota, FL
Dear Savvy Saver,
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Pay-on-death (POD): this is mainly for bank accounts. You simply fill out a form from your bank, naming who should get the money in your account when you pass away. No need for a lawyer or complicated paperwork—just your signature and the necessary details.
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Transfer-on-death (TOD): this works similarly but is for securities and investment accounts. You designate who should inherit these assets, ensuring a smooth and quick transfer when the time comes.
The best part? Your beneficiaries get access to the funds immediately, without waiting for probate, which can drag on for months. All they typically need is a death certificate and proper identification.
If you have mutual funds, securities, or even a checking or savings account and want to support a cause you care about—like the Foundation —you can designate us as your POD or TOD beneficiary. It’s a simple yet powerful way to make a difference.
Got more questions or need help setting this up? Reach out anytime!