Transfer on Death Beneficiary Designation Affidavit to a non-profit charity

Asked almost 2 years ago - Toledo, OH

In Ohio, you can have a Transfer on Death Beneficiary Designation Affidavit (for a house) go to a person or persons. But what about to a charity? Can I have this document set up so my house goes to my favorite non-profit charity when I die? Thanks so much for your help and time!

Attorney answers (3)

  1. Justin Jay Watling

    Contributor Level 15

    2

    Lawyers agree

    Answered . Yes. A "person" is broadly defined in the O.R.C. to include entities. A living person is referred to as an "individual". Also, the statute referes to a beneficiary which survives the Owner or "is in existence" at the Owner's date of death. So, the "in existence" language presumes an entity designation.

  2. Charles Lawrence Huddleston III

    Pro

    Contributor Level 16

    2

    Lawyers agree

    Answered . I am not a fan of TOD transfers for two reasons: First, because Ohio tried this once before with TOD deeds and it created such a mess the legislature had to punt and re-do the statute. Second, because it is harder to keep track of and remember extraneous documents and prior decisions as we get older and lose memory and capacity. Because of those concerns, I would counsel my clients to make the gift by Will or Trust and not by a TOD Affidavit.

    Having said that, I am curious about the answer to your question, because it depends on the definition of "person" applicable to the TOD law. I don't know if "person" is intended to include an "entity", but I'm curious enough to do a bit of research, and will add a comment to this answer when I find out.

    Mr. Huddleston is an Ohio-Certified Specialist in Estate Planning, Trust & Probate Law, with offices in Columbus... more
  3. Steven J. Fromm

    Contributor Level 20

    1

    Lawyer agrees

    Answered . I agree with Mr. Huddleston, PODs can distort an estate plan. You need to get with a good estate planning attorney who can look at all your assets and determine your goals so that the proper documents can be drafted and that actually work.

    For more on estate planning and other issues, see Estate Planning Mistakes: 5 Not So Easy Pieces at http://www.sjfpc.com/estate_planning_drafting_w.... Please hit the like button at the end of the article if you found it helpful.

    Hope this helps.

    Please remember to designate a best answer to your question.

    Mr. Fromm is licensed to practice law throughout the state of PA with offices in Philadelphia and Montgomery Counties. He is authorized to handle IRS matters throughout the United States. His phone number is 215-735-2336, his email address is sjfpc@comcast.net , for more tax, estate and business articles visit his website www.sjfpc.com. and blog

    LEGAL DISCLAIMER Mr. Fromm is licensed to practice law throughout the state of PA with offices in Philadelphia... more

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