How to name beneficiaries and fund a trust at Broadridge

Broadridge says it "does not maintain beneficiary records on behalf of shareholders as a transfer agent." A Transfer on Death beneficiary exists only as part of the account registration and is created by re-registering the shares.¹

The registration must use the abbreviation "TOD". Broadridge states that the designation "POD" or the words "payable on death" shall not be used.²

Only one beneficiary per registration may be designated. Naming multiple beneficiaries requires separate accounts.²

No Lineal Descendants (LD) or Lineal Descendants Per Stirpes (LDPS) designation is permitted.²

Each registered owner signs exactly as the name appears on the account, with a Medallion Signature Guarantee or, for a transfer valued at $10,000 or less and a U.S. resident signer, the waiver option.²

A notary stamp, seal, or embassy or consulate stamp is never accepted in place of a Medallion Signature Guarantee. A per stirpes TOD registration is ineligible for the Medallion waiver.²

For directly registered sharess. Available to download.²

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For directly registered sharess. Available to download.³

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While the owner is alive, only the owner's endorsement is required to transfer TOD shares. The TOD payee does not sign.²

For directly registered sharess. Available to download.²

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Registering shares to a trust is a transfer: the shares move into a new account held in the trust's name.²

Under the V8.3 package a Medallion Signature Guarantee generally replaces backup trust paperwork: "For most transfers submitted with a valid MSG, backup legal documents are not required."²

Supporting trust documents become mandatory on the Medallion waiver path.²

On the Medallion waiver path, a trustee, co-trustee or successor-trustee transfer requires the signatures of all named trustees, or of the successors if the named trustees have died or resigned.²

Dividend elections and direct-deposit instructions do not carry over to the new trust account.²