Steven and Debra wanted to leave a gift in their will to Oakland Symphony.
Steven: Debra and I have always felt a strong connection to Oakland Symphony. Over the years we have seen the organization grow and help so many people. We wanted to make sure they have the means to continue to grow for years to come.
Debra: We talked to our investment advisor about our goals and explained we wanted to support Oakland Symphony. Our advisor suggested a simple solution naming Oakland Symphony as a beneficiary of one of our mutual funds.
We used a "transferable on death" or TOD form. Because we jointly own the account, the TOD beneficiary designation form ensures they can both benefit from the mutual fund during their joint lives. The survivor of the two of them would continue to own the mutual fund for the rest of their life. When Steven and Debra both pass away, the mutual fund will be transferred to Oakland Symphony. They completed a TOD beneficiary designation form and sent it back to their mutual fund custodian.
Debra: Making a TOD gift was easy to do and cost us nothing. We can continue to use the mutual fund to meet our needs in retirement.
Steven: I like knowing that if I pass away, Debra will have enough to meet her needs. We both like knowing that Oakland Symphony 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, index funds, or mutual funds and would like to make a legacy gift Oakland Symphony, consider a transfer on death gifting strategy. If you have any questions, please contact us