Payable on Death and Transfer on Death Accounts
You can set up a Payable on Death (POD) account, also known as a Totten Trust, and name The Ark as a beneficiary. The service is available at a number of banks, credit unions and savings and loan institutions.
In most cases, there is no cost associated with this procedure. You fill out a simple form, identify the bank accounts you wish to have tied to the POD account, provide the contact information for The Ark, and sign the form. In the event of death, The Ark will have full access to any savings and checking accounts specified on the form.
You may name The Ark as a beneficiary by placing a Transfer on Death (TOD) designation on your brokerage or investment account. By placing a TOD designation on your brokerage or investment account, that account will be paid over to The Ark after your lifetime.
Our legal name: The Ark
Our federal tax ID: 38-1802396
Our address: 316 S. Main Street, Ann Arbor, MI 48104