Transferable on Death (TOD) Gifts

• Harold: "Jeanne and I have always felt a strong connection to Luther College and the mission of the college. Over the years, we have seen Luther grow and help so many people. We wanted to make sure that the college has the means to continue to grow for years to come."
• Jeanne: "We talked to our investment advisor about planning goals and explained that we wanted to support Luther. Our advisor suggested naming Luther College as a beneficiary of one of our mutual funds."

Mark, who was Harold and Jeanne's investment advisor, suggested that Harold and Jeanne use a "transferable on death" or "TOD" form. Mark explained that because Harold and Jeanne jointly owned the account, the TOD beneficiary designation form would ensure that they can benefit from the mutual fund during their joint lives, that the survivor of the two of them would continue to own the mutual fund for the rest of the survivor's life, and that after both pass away, the mutual fund would be transferred to Luther College. Mark provided the proper TOD beneficiary designation form, and Harold and Jeanne were easily able to complete the paperwork before they left Mark's office.

• Jeanne: "We really liked Mark's idea. Making a TOD gift was simple to set up and will let us continue to use the mutual fund to meet our needs in retirement."
• Harold: "I like knowing that if I pass away, Jeanne will have enough to meet her needs. We both like knowing that Luther College will receive the mutual fund after both of us pass away. We couldn't be happier with our giving strategy."

Is a transferable on death (TOD) gift right for you?

If you own stocks, bonds or mutual funds and would like to make a gift to leave a legacy and support Luther College, consider a transfer on death gifting strategy. If you have questions about transfer on death giving strategies, please contact us. We would be happy to assist you and answer any questions that you have.

Please note: The information above is representative of a typical donor and may or may not be an actual donor to Luther College. Since the benefits of a TOD gift may differ depending on your personal circumstances, please consult with your legal, tax or financial advisor.