Term "TOD, or Transfer (beneficiary) on death"

My big investment house has my kids listed as beneficiaries, and I requested “transfer on death”, and I am trying to get investment house to use that terminology, as I do not want kids to go through probate. Can the terms Beneficiary, be sufficient for a transfer on death?

Unless the beneficiary is your estate, it does not go through probate.

You should speak with an attorney who specializes in estates.

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I also have a beneficiary on death of my house as my state allows that; and No the beneficiary are my children. I did not realize an “estate” can be a beneficiary.

It is not usual for an estate to be the beneficiary, but yes, it can happen, either deliberately or by default.

Inheritance as a beneficiary or by transfer on death are pretty much synonyms as neither go through probate. There may be some technical differences, but from a practical view, it’s not worth arguing about which term an account uses.

thanks. I just used to see the term “TOD” on my accounts, and now it says beneficiary. I