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Wills, Trusts, And Administration Of Estates Probate: Uniform Transfer On Death Security Registration Act, Carl Jackson Spence

Georgia State University Law Review

The Act provides that owners of securities may designate a transfer-on- death (TOD) beneficiary or beneficiaries. Upon the death of the owner or of the last survivor among multiple owners, ownership of securities registered in beneficiary form passes to the beneficiaries outside of the decedent's probate estate. Registration of securities in beneficiary form has no effect until the death of the owner or owners and may be canceled or changed at any time by the owner or owners. If no beneficiary survives all of the owners, the securities pass to the estate of the owner or the last survivor of …