
Get State Farm Designation Or Change Of Transfer On Death (tod) Beneficiary 2014-2025
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The primary difference lies in their application and control. A Transfer on Death (TOD) designation allows for a direct transfer of assets to beneficiaries upon death, avoiding probate. In contrast, a beneficiary designation is a broader term that can refer to various assets, such as life insurance policies and retirement accounts. Understanding these differences is vital for effective estate planning, ensuring your wishes are honored.
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