Home Blog What is TOD

Jump to Section

Quick Facts — Power of Attorney Lawyers

Transfer on Death (TOD) is a legal arrangement allowing an account/asset owner to designate one or more beneficiaries to receive the assets after their death. TOD applies to a wide range of assets, including bank accounts, investment accounts, stocks, bonds, and real estate. When the owner of the assets passes away, the designated beneficiaries inherit the assets without having to go through the probate process.

Benefits of Using TOD for Estate Planning

There are several benefits of using Transfer on Death designations for estate planning, including:

  • Avoiding Probate: TOD allows assets to pass directly to beneficiaries without going through the probate process. This can save time, money, and reduce stress for loved ones.
  • Privacy: TOD designations are private and do not become public record, unlike the probate process.
  • Flexibility: TOD designations are easy to set up and can be changed or revoked at any time.
  • Control: With TOD, you retain control over your assets while you are alive and can designate beneficiaries to receive them after you pass away.
  • Cost-Effective: TOD designations are generally less expensive than creating a trust or going through probate.

Requirements and Limitations of TOD Designation

  • State Laws: State laws govern TOD designations, and the requirements may vary from state to state. It's essential to consult an estate planning attorney to ensure compliance with state laws.
  • Beneficiary Designation: TOD requires the account or asset owner to designate one or more beneficiaries to receive the assets after their death. It's important to ensure that the beneficiary designation is clear and up to date.
  • Joint Owners: If the account or asset has a joint owner, the TOD designation may not be effective until both owners pass away. In this case, it's essential to discuss options with an estate planning attorney.
  • Creditor Claims: TOD assets may be subject to creditor claims, so it's important to discuss the implications of TOD with an estate planning attorney.
Meet some lawyers on our platform

Lori B.

301 projects on CC
CC verified
View Profile

Heather B.

194 projects on CC
CC verified
View Profile

Dolan W.

1512 projects on CC
CC verified
View Profile

Allen L.

375 projects on CC
CC verified
View Profile

How to Set up a TOD Designation

Setting up a Transfer on Death designation is a straightforward process that can be done with the help of an estate planning attorney. Here's how:

  1. Review Your Assets. Review all your assets and determine which ones are eligible for TOD designation. This includes bank accounts, investment accounts, stocks, bonds, and real estate.
  2. Choose Your Beneficiaries. Decide who you want to receive your assets after you pass away. Make sure the beneficiary designation is clear and up to date.
  3. Consult an Estate Planning Attorney. Consult with an estate planning attorney to ensure compliance with state laws and to discuss any potential creditor claims or other issues.
  4. Complete the TOD Designation. Complete the necessary forms to designate your beneficiaries and provide a copy to your estate planning attorney.
  5. Keep Your Designation Up to Date. Review and update your TOD designation periodically to ensure it reflects any changes in your assets or beneficiaries.

Key Terms for TOD

  • Transfer on Death (TOD): A legal arrangement that allows assets to pass directly to beneficiaries without going through the probate process.
  • Beneficiary Designation: The process of designating one or more beneficiaries to receive assets through a TOD designation.
  • Probate: The legal process of administering a deceased person's estate, which can be avoided by using TOD designations.
  • Creditor Claims: Claims made by creditors against a deceased person's estate that can affect the transfer of assets through TOD.
  • Estate Planning Attorney: A legal professional who specializes in estate planning and can help individuals set up TOD designations and ensure compliance with state laws.

Final Thoughts on TOD

In conclusion, Transfer on Death designation is a useful estate planning tool that can help you avoid probate, maintain privacy, and ensure that your assets are passed on to your beneficiaries according to your wishes. However, it's essential to understand the requirements and limitations of TOD designations and to work with an estate planning attorney to ensure compliance with state laws and protect your assets from potential creditor claims. With the right guidance, you can use TOD to secure your estate and provide peace of mind for yourself and your loved ones.

If you want free pricing proposals from vetted lawyers that are 60% less than typical law firms, click here to get started. By comparing multiple proposals for free, you can save the time and stress of finding a quality lawyer for your business needs.


ContractsCounsel is not a law firm, and this post should not be considered and does not contain legal advice. To ensure the information and advice in this post are correct, sufficient, and appropriate for your situation, please consult a licensed attorney. Also, using or accessing ContractsCounsel's site does not create an attorney-client relationship between you and ContractsCounsel.


Need help with a Power of Attorney?

Create a free project posting
Clients Rate Lawyers 4.9 Stars
based on 22,830 reviews

Meet some of our Lawyers

Karen S. on ContractsCounsel
View Karen
4.8 (36)
Member Since:
January 31, 2023

Karen S.

Attorney
Free Consultation
Atlanta, GA
15 Yrs Experience
Licensed in GA
Georgia State University

I'm an attorney available to help individuals and small businesses in Georgia with initial business set-up, required filings, tax strategies, etc. I'm also available to draft, review, and negotiate contracts of many types, both personal and professional. I can draft and file real estate quit claims as well. My legal and business experience and expertise includes small business startups, information technology, technology innovation, real estate transactions, taxes, intellectual property, electrical engineering, the business of video game development, business requirements definition, technology consulting, technology companies, liability waivers and reduction strategies, and the electric utility industry. I work part-time for a local law firm and part-time in my solo practice. I'm also an adjunct professor teaching business law. In addition, I'm part owner, legal counsel to, and a board member of a virtual reality video game development company. I am a member of the Georgia Bar Association. Please reach out if you need attorney, documentation or consulting help in any of those areas!

Recent  ContractsCounsel Client  Review:
5.0

"Karen is amazing!! She is so approachable and gives great, practical guidance."

Michael K. on ContractsCounsel
View Michael
5.0 (82)
Member Since:
June 28, 2021

Michael K.

Associate Counsel
Free Consultation
Miami, FL
8 Yrs Experience
Licensed in FL
St. Thomas University School of Law

A business-oriented, proactive, and problem-solving corporate lawyer with in-house counsel experience, ensuring the legality of commercial transactions and contracts. Michael is adept in reviewing, drafting, negotiating, and generally overseeing policies, procedures, handbooks, corporate documents, and more importantly, contracts. He has a proven track record of helping lead domestic and international companies by ensuring they are functioning in complete compliance with local and international rules and regulations.

Recent  ContractsCounsel Client  Review:
4.0

"I’m so glad I chose Michael. He was so helpful. I made the best choice in picking him."

Dolan W. on ContractsCounsel
View Dolan
5.0 (690)
Member Since:
September 8, 2024

Dolan W.

Attorney
Free Consultation
San Diego, California
10 Yrs Experience
Licensed in CA
Purdue Law School

You need a lawyer who's more than just knowledgeable – you need someone who's on your side. That's where I come in. I'll be there every step of the way, offering clear communication and proactive solutions. Whether you're starting a business or navigating a complex legal matter, I'll help you make informed decisions and achieve your goals. I also have drafted many templates to save you money. Just use this link - https://www.contractscounsel.com/client/lawyer-profile/3764#Templates Why Choose Me? I put you first I'm proactive I'm efficient I'm accessible

Recent  ContractsCounsel Client  Review:
5.0

"I am a repeat client of Dolan and have always been impressed with the quality of his work, speed, and his quick follow ups. I look forward to working with Dolan again."

Matt B. on ContractsCounsel
View Matt
5.0 (13)
Member Since:
September 8, 2023

Matt B.

Partner
Free Consultation
Coral Gables, FLorida
26 Yrs Experience
Licensed in FL, NY
University of Miami School of Law (JD)

Matt practices law in the areas of commercial finance, contract law, business & corporate law, and residential and commercial real estate (with a particular emphasis on retail shopping centers and office buildings). He has extensive experience in negotiating and structuring complex commercial loan, asset acquisition, asset disposition, leasing and real estate transactions. Matt additionally works on various general matters for clients such as forming LLCs and corporations, preparing various LLC and corporation documents and drafting and reviewing various types of contracts and agreements for clients and providing advice regarding same. Matt provides clients with extensive and timely communication on their matters and ensures that his clients are well represented and highly satisfied with their legal representation and the work product provided. Matt offers all potential clients a free initial consultation to discuss their legal matters prior to engaging his firm to represent them. Prior to opening his law firm Matt worked for many years in the New York City office of a large international law firm where he counseled large multi-national businesses, financial institutions, investment groups and individuals on highly sophisticated business, financial and real estate transactions. Matt provides his clients with diligent legal representation on their matters with a very personal approach.

Recent  ContractsCounsel Client  Review:
5.0

"Mr Bales is a true professional. Great representation and will use his services again. Jim"

Anand A. on ContractsCounsel
View Anand
5.0 (39)
Member Since:
July 17, 2022

Anand A.

Counsel
Free Consultation
Philadelphia, PA
12 Yrs Experience
Licensed in NJ, PA
Rutgers University School of Law

Anand is an entrepreneur and attorney with a wide-ranging background. In his legal capacity, Anand has represented parties in (i) commercial finance, (ii) corporate, and (iii) real estate matters throughout the country, including New Jersey, Pennsylvania, Delaware, Arizona, and Georgia. He is well-versed in business formation and management, reviewing and negotiating contracts, advising clients on financing strategy, and various other arenas in which individuals and businesses commonly find themselves. As an entrepreneur, Anand is involved in the hospitality industry and commercial real estate. His approach to the legal practice is to treat clients fairly and provide the highest quality representation possible. Anand received his law degree from Rutgers University School of Law in 2013 and his Bachelor of Business Administration from Pace University, Lubin School of Business in 2007.

Recent  ContractsCounsel Client  Review:
5.0

"Anand was a pleasure to work with! He was very thorough and professional."

Caroline N. on ContractsCounsel
View Caroline
5.0 (3)
Member Since:
April 18, 2026

Caroline N.

Attorney
Los Angeles County, California
4 Yrs Experience
Licensed in CA
Chapman Fowler School of Law

Caroline K. Nam, Esq. is a solo attorney who provides legal counsel with a management-first mindset, combining legal expertise with proactive policy development. Prior to starting her own practice, Caroline gained extensive legal experience as a litigator defending and advising employers of all sizes, ranging from a single business owner, to a small family-owned winery, and major, nationwide corporations. Caroline also has experience on the plaintiffs' side representing survivors of sexual abuse against school districts and churches. With her unique litigation background and expertise representing both plaintiffs and defendants, Caroline understands that legal compliance is only a piece of the puzzle for business success. She is committed to leading with compassion to provide a personalized, approachable service for each client. Having safeguarded companies against a variety of business and employment disputes, Caroline is focused on preventative risk management, helping owners reduce potential employment litigation that she has defended firsthand in court. Caroline is dedicated to helping entrepreneurs spend less time worried about liability and more time focusing on business growth. Based in Los Angeles County, she provides accessible, actionable legal solutions throughout Southern California. During her free time, Caroline enjoys yoga and serving her Los Angeles community. In 2025, she partnered with NLSLA to provide pro bono legal services to individuals impacted by the Eaton Fire. Currently, she serves on the board of directors of a nonprofit organization based in Los Angeles.

Recent  ContractsCounsel Client  Review:
5.0

"I had Caroline create a liability waiver for my Sports Fencing Club. She was prompt in completing the task, helpful and courteous in answering my questions, and in every way professional. I would use her services again if required."

Adam J. on ContractsCounsel
View Adam
5.0 (18)
Member Since:
April 17, 2026

Adam J.

Business Attorney
Free Consultation
Asheville, NC
18 Yrs Experience
Licensed in CA
University of Pennsylvania

I'm a California-licensed attorney with 18+ years of experience helping everyone from Fortune 500 companies and venture-backed startups to individuals navigating real-life legal situations. I bring an high degree of emotional intelligence to every matter, and am also certified as both a coach and as a counselor. My career started at Fenwick & West, one of Silicon Valley's top law firms, where I worked alongside names like Google, Airbnb, Kleiner Perkins, and Sequoia Capital. From there I moved in - house at companies like Cloudflare, Autodesk, and Enphase - which gave me a practical, business-minded perspective that I bring to every client, no matter the size of the matter. Today I work with businesses and individuals alike. On the business side, that means commercial contracts, leases, startup corporate work, and serving as a fractional general counsel for companies that need a trusted legal partner without the overhead. On the personal side, I help individuals with employment matters, disputes, demand letters, contract review, and the kind of everyday legal situations where you just need someone knowledgeable in your corner. I'm direct, responsive, and I speak plain English — not legalese. Whether you're a founder closing your first deal or an individual facing a situation you've never navigated before, I'll give you the same level of attention and care.

Recent  ContractsCounsel Client  Review:
5.0

"I needed legal advice regarding ownership of solar panels after a bankruptcy and every attorney I spoke with stated they could not help me. Adam was the only one to step up and be an advocate for my family. He was extremely prompt with his communication and transparent with his fees. I never once felt like I was being ignored or having my concerns brushed aside. Adam listened and addressed every single one of my concerns in a professional manner. His knowledge with how solar companies work gave me the confidence to know I was going to achieve what I was looking for. I highly recommend Adam, I am so glad I hired him to represent me when nobody else would."

Find the best lawyer for your project

Browse Lawyers Now

See Real Power of Attorney Projects

Oklahoma My mother needs a Will done. Drafting
  • Oklahoma
  • 5 lawyer bids
  • $350 - $500
View Details
Tennessee POA documents Drafting
  • Tennessee
  • 3 lawyer bids
  • $250 - $895
View Details
Texas Power of Attorney Review
  • Texas
  • 2 lawyer bids
  • $145 - $250
View Details
Texas power of attorney for disabled child about to turn 18 Drafting
  • Texas
  • 3 lawyer bids
  • $25 - $250
View Details
Georgia Letter of Opinion for Power of Attorney in Georgia Review
  • Georgia
  • 2 lawyer bids
  • $299 - $4,000
View Details
Texas Draft Declaration for Mental Health Treatment (DHMT) or MPOA that also covers mental health crisis situation Drafting
  • Texas
  • 3 lawyer bids
  • $350 - $425
View Details

See all Power of Attorney projects

Quick, user friendly and one of the better ways I've come across to get ahold of lawyers willing to take new clients.

View Trustpilot Review

Need help with a Power of Attorney?

Create a free project posting
Clients Rate Lawyers 4.9 Stars
based on 22,830 reviews
CONTRACT LAWYERS BY TOP CITIES
See All Estate Planning Lawyers

Contracts Counsel was incredibly helpful and easy to use. I submitted a project for a lawyer's help within a day I had received over 6 proposals from qualified lawyers. I submitted a bid that works best for my business and we went forward with the project.

View Trustpilot Review

I never knew how difficult it was to obtain representation or a lawyer, and ContractsCounsel was EXACTLY the type of service I was hoping for when I was in a pinch. Working with their service was efficient, effective and made me feel in control. Thank you so much and should I ever need attorney services down the road, I'll certainly be a repeat customer.

View Trustpilot Review

I got 5 bids within 24h of posting my project. I choose the person who provided the most detailed and relevant intro letter, highlighting their experience relevant to my project. I am very satisfied with the outcome and quality of the two agreements that were produced, they actually far exceed my expectations.

View Trustpilot Review

Need help with a Power of Attorney?

Create a free project posting
Clients Rate Lawyers 4.9 Stars
based on 22,830 reviews

Want to speak to someone?

Get in touch below and we will schedule a time to connect!

Request a call

Find lawyers and attorneys by city