A TOD is a designation on a stock or bond certificate that is Transferable On Death to a specific beneficiary or group of beneficiaries. A TOD passes outside the probate system and is usually administered by the institution holding the stock certificates.
A TOD is a useful planning tool if you want to give stocks or bonds to your heirs. Remember however, if you own a home, real property, or a vehicle, you may still need to probate your estate with a Will, unless you have prepared a Living Trust.
These are documents you may need to plan your estate and simplify your life: