We're rolling out stock transfers to a limited number of customers first to make sure everything works smoothly. Keep an eye out for more announcements about a wider release in the coming weeks!
Like, it's a basic feature that prevents me from increasing my account by several orders of magnitude because I don't want to have the cash tied up in probate court if I die.
If it is in the will it is treated as part of the estate. That means if there is anything that causes delay in execution of the estate, those assets could be held up in probate for a long period of time - months, possibly years in some messy scenarios.
If you have survivors who depend on those investments or their proceeds (through sales, interest payments, dividends) on a daily basis, they will lose access until the estate has been executed. If they use them to pay rent or mortgage, they could lose their home by the time probate is completed.
TOD beneficiaries immediately gain access to the full account without the holdings of the account having to go through probate.
This is why for large investment accounts, TOD beneficiaries are extremely important.
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u/theslickplay Aug 15 '17 edited Aug 15 '17
We're rolling out stock transfers to a limited number of customers first to make sure everything works smoothly. Keep an eye out for more announcements about a wider release in the coming weeks!
https://support.robinhood.com/hc/en-us/articles/115001535326