Designate and Donate — Stocks and Investment Accounts

Ask the brokerage or mutual fund custodian for a T.O.D. (Transfer on Death) form. Some companies also call these beneficiary designation forms.

If you manage your own stock portfolio, there's a very easy way to make a gift to your favorite charity and build your own legacy. Just designate Your Options Medical as the beneficiary of all or a percentage of your brokerage account using a beneficiary designation form. After your passing, the account balance you've selected will be transferred to our organization. Not sure where the forms are located? You'll need to contact your brokerage firm and/or search their website for “manage beneficiary designations” or “beneficiary designation form.”

How It Works

  • Contact your broker or investment account holder about a T.O.D. or beneficiary designation form for mutual funds or other types of investment accounts.
  • United States Savings Bonds – ask your financial institution about beneficiary designation or transfer-on-death options.
  • Artwork and Personal Property – many custodians provide separate beneficiary forms for tangible items of value.
  • Beneficiary Designation – use the custodian’s official form to name one or more beneficiaries for your account.
  • Send the completed form back to your broker or investment account holder, then contact us at 781-284-8747.

Benefits

  • You receive an income tax deduction for the fair market value of the securities on the date of transfer, regardless of what you originally paid.
  • You pay no capital gains tax on the transfer when the stock or share of an investment account is sold.

Stocks and Investment Accounts: You Have Planned for the Future

Investment accounts hold cash or stocks for the long term. You may have a mutual fund or a brokerage account, which is held at a financial institution. The objective of these accounts is to achieve long-term growth, provide future income, or preserve capital. After your passing, the remaining account balance may be transferred to heirs or charity.

When you opened the account, you should have received a T.O.D. form that tells the financial institution what to do with the assets when you pass away. If you do not complete this form, you may create unnecessary confusion among your heirs and add delays and expense to your estate administration.

Keep it simple. Ask the account custodian for a T.O.D. form, complete it, and share it with your financial or legal advisor. You can also leave all or a percentage of the assets to YOM. Any portion of your investment account left to us will be exempt from estate and inheritance tax, and you avoid paying any capital gains on assets that have appreciated over the years.

Jointly Held Accounts

You may be a joint owner of the brokerage account, or you may have made a loved one a joint owner. A joint owner may engage in transactions on the account during your lifetime and may also have rights of survivorship—meaning they will automatically receive the account when you pass away. Even if you have a joint account, you should complete the T.O.D. form to ensure that the brokerage knows what to do with the remaining assets when both account holders have passed away. This step will also help ensure that the account does not become part of a time-consuming and costly probate process.