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Add a Transfer on Death (T/O/D) Beneficiary Designation (non-retirement plans)

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Account owner(s) who are legal residents of the United States* can designate one or more beneficiaries who take possession of the property upon the death of the owner(s). This is done through a Transfer on Death (T/O/D) designation. The acceptability of a T/O/D designation is determined by the laws of the owner’s state of residence within the United States. This method of disposition eliminates the need for probate proceedings. A T/O/D beneficiary designation is acceptable on sole ownership and joint tenant accounts only.

With a T/O/D designation, the sole owner or joint tenants remain the owners of the account. The account owner(s) have the authority to add or remove beneficiaries at any time. The individual(s) designated as beneficiary (ies) has/have no ownership interest in the shares.

You should consult with your attorney and financial advisor to ensure a T/O/D beneficiary designation is appropriate for your estate planning needs.

To add a Transfer on Death (T/O/D) beneficiary designation to your non-retirement plan account, provide the following:

  1. A completed Transfer on Death Registration Form referencing the account number(s) and signed by all current owner(s) of the account. Each signature must be guaranteed by a bank, savings and loan association, trust company, credit union, broker/dealer or any other “eligible guarantor institution,” as noted on the form.
  2. Any outstanding shares in certificate form must be returned to Franklin Templeton Investor Services, LLC, through a traceable method of delivery (i.e. express, certified or registered mail, etc.).

* A Transfer on Death (T/O/D) beneficiary designation is not currently allowed for shareholders residing in the state of Louisiana.

Please call us at (866) 821-7519 if you have questions about the information provided above. Customer Service Representatives are available Monday through Friday, from 5:30 a.m. to 5:00 p.m. Pacific Time.

 

 

 

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    For U.S. residents only.