Is there a transfer on death (payable on death) designation for a stock account?

Minnesota estate planning attorney Karen Schlotthauer explains that there is payable on death designations for stock accounts.

Contact Karen Schlotthauer

Email: [email protected]

Phone: (612) 336-9324

Transcript:

Is there a transfer on death designation for a stock account? Yes, there’s transfer on death and payable on death designations for investment accounts or bank accounts. And they’re just like a beneficiary designation. And if I have my checking account and I name my child as payable on death designee, at my death, that account will transfer to my child.