Transferable on Death (TOD) Gifts
Harold: Jeanne and I are faithful Catholics. Over the years, we have seen how the Church has brought people closer to Jesus Christ and truly made the most significant difference in their lives. We wanted to help this work continue in some small way, if possible.
Jeanne: We talked to our investment advisor about planning goals and explained that we wanted to support the Church on a long-lasting basis. He suggested we consider starting an endowment – or giving to an existing endowment – for the good of the Church. We knew the Catholic Foundation of Eastern Montana was the organization that built endowments for the Church, and we told him about it. Our advisor suggested a simple solution — naming the Catholic Foundation of Eastern Montana as a beneficiary of one of our mutual funds.
Marcus, who was Harold and Jeanne's investment advisor, suggested that Harold and Jeanne use a "transferable on death" or "TOD" form. Marcus 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 the Catholic Foundation of Eastern Montana. Marcus provided the proper TOD beneficiary designation form, and Harold and Jeanne were easily able to complete the paperwork before they left Marcus's office.Jeanne: We talked to our investment advisor about planning goals and explained that we wanted to support the Church on a long-lasting basis. He suggested we consider starting an endowment – or giving to an existing endowment – for the good of the Church. We knew the Catholic Foundation of Eastern Montana was the organization that built endowments for the Church, and we told him about it. Our advisor suggested a simple solution — naming the Catholic Foundation of Eastern Montana as a beneficiary of one of our mutual funds.
Jeanne: We really liked Marcus'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 the Catholic Foundation of Eastern Montana will receive the mutual fund after both of us pass away. We couldn't be happier with our giving strategy.
Harold: I like knowing that if I pass away, Jeanne will have enough to meet her needs. We both like knowing that the Catholic Foundation of Eastern Montana 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 the Church through the Catholic Foundation of Eastern Montana, 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 name and image above is representative of a typical donor and may or may not be an actual donor to our organization. Since the benefits of a TOD gift may differ depending on your personal circumstances, please consult with your legal, tax or financial advisor.
