No. A Transfer on Death, or TOD, account does not allow fixed dollar distributions to beneficiaries. Beneficiary allocations must be percentage-based, because the value of the account cannot be known in advance of the account holder’s death.
You may designate up to 6 primary beneficiaries, provided that the total percentage allocation equals 100%.
You may also designate one or more contingent, or secondary, beneficiaries. These contingent beneficiaries would apply if a primary beneficiary predeceases the account owner. Alternatively, depending on the available election, the deceased primary beneficiary’s share may be allocated to the remaining primary beneficiaries or to the account owner’s estate.
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