Changes in Transfer on Death Instruments

ATTN Illinois Member Agents: Updated TODI Underwriting Guidelines. Due to the January 1, 2015 change in the statute, our guidelines for Transfer on Death Instruments have been updated. The good news is that when beneficiaries have a bona fide, third party purchaser, ATG will no longer require beneficiaries to comply with all of the “bond in lieu of probate” requirements! Also, the statute has relaxed some of its strict requirements, including eliminating the need for an Affidavit of Acceptance, among other things. Please check out the new guidelines at Chapter 8C-VI - Decedents' Estates: Transfer on Death Instruments.

Posted on: Thu, 09/10/2015 - 10:25am