Sunday, November 6, 2011

If you open a scottrade account, are you able to include a payable upon designation if you die?

This depends on the state where you live. Not all states recognize TOD - Transfer on Death accounts for brokerage accounts which are similar to POD - Payable on Death for bank accounts. These are both forms of Totten Trusts. There is not a charge for this. It is a type of account registration.

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