Estate planning options at TD Bank

TD offers In Trust For (ITF) accounts, which signify that the funds will belong to a named beneficiary on the death of the owner.¹

TD's deposit agreement calls a beneficiary designation a "Revocable Unwritten Trust" (in-trust-for) account rather than using the term POD. An account designated as a trust account with no written trust agreement provided at opening is a Revocable Unwritten Trust.²

The Personal Deposit Account Agreement applies the rules for the form of ownership specified on the account's signature card.²

The owner may withdraw all of the funds during life. The beneficiary has no right to withdraw during the owner's lifetime and may withdraw only after the death.²

At the owner's death the account belongs to the named beneficiary if that person is still living.²

The person who created the trust account may change the beneficiaries or the account type.²

Without a written trust agreement provided at opening, an account designated as a trust account is deemed a "Revocable Unwritten Trust" (an in-trust-for account).²

An account opened "as trustee of a written trust" is a written trust account: only the trustee may withdraw funds or otherwise transact on it, as the trust instrument designates.²

TD states that it will not be responsible to the written trust's beneficiaries for the trustee's actions.²

The Personal Deposit Account Agreement treats a trust set up with a Social Security number or tax identification number as an eligible owner for the TD Signature Savings Rate Bump and the TD Simple Savings fee waiver.²

Corporate trustee services: trustee or co-trustee, including trustee of a Delaware directed trust^{3, 4}