Yesterday I was reviewing/updating all of my financial accounts making sure my beneficiaries were up to date. Everything was going along great until I wanted to do a TOD (Transfer on Death) on a "joint" mutual fund account at Vanguard. Evidently, at VG you can only do a TOD if it's an individual account. The phone rep said (obviously) that the surviving spouse (joint account holder) would get the money in the event of my death. I was wanting to put my kids as TOD in case both my DW and I were to die at the same time, or more likely, one of us dies but the other doesn't remember to update the account with a TOD later. The phone rep said "that's what a Will is for" - which is true and I already have one.
Anybody have a joint account at Vanguard and were able to do a TOD? At Fidelity I was able to set up my kids as contingent beneficiaries on a joint account.
Anybody have a joint account at Vanguard and were able to do a TOD? At Fidelity I was able to set up my kids as contingent beneficiaries on a joint account.