UNIVERSITY OF MINNESOTA FOUNDATION

Direct transfers from a bank or investment account

TOD stock portfolio

The simplest way to make a charitable gift from a securities portfolio at death is through a transfer on death (TOD) designation. Most investment companies offer the option of TOD accounts for stocks and bonds. Donors can inform their investment companies that they would like to set up a TOD account, and name the University of Minnesota Foundation as the beneficiary of all or a portion of the account. The TOD assets will be distributed to the Foundation to benefit the U upon death of the account owner and will not be subject to probate. 

POD bank account

Donors can also make a charitable gift from a bank account at death through a payable on death (POD) designation by notifying their banks that they would like to set up a POD account, and name the University of Minnesota Foundation as the beneficiary of all or a portion of the account. The POD assets will be distributed to the Foundation to benefit the U upon death of the account owner, and like the TOD, will not be subject to probate.  

 

Disclaimer

Information on this website is not intended as legal or tax advice. For information on how any gift may affect your tax situation, please consult with your own professional advisor.