You can Bypass Probate with a TOD Plan
Just as you can name Augustana College as a beneficiary of a life insurance policy or retirement-plan asset, you may designate Augustana as a beneficiary of your brokerage account. This relatively new planning option is known as a transfer-on-death (TOD) arrangement.
A TOD plan allows you to pass securities directly to Augustana upon your death, bypassing probate. This method of registering securities also avoids needing any action by the executor or administrator of your estate. State law governs the registration of securities in the names of their owners, and most states have adopted TOD legislation. Please ask your broker or financial advisor about your state's applicable laws.
For more information, please contact:
Stephen M. Davis, Assistant Vice President of Legacy Planning
639 38th Street
Rock Island, IL 61201
(800) 798-8100 x7587