ACCOUNT ACCESS
Merrill Lynch OnLine Login


Visit the Carver Federal Savings Bank Web site

Transfer on Death Services

The Merrill Lynch Transfer on Death (TOD) Service is an estate-planning tool that allows you to avoid the costs and delays of probate by establishing a list of beneficiaries. The assets in your account will be transferred to your beneficiaries following your death.

WHO'S ELIGIBLE?
The TOD Service is available only to residents of states that have adopted the Uniform Transfer on Death Act. If your primary residence changes to a state that has not adopted the Uniform Transfer on Death Act, the service will become void.

HOW THE SERVICE WORKS
The TOD Service is an ownership or registration option you may choose with many Merrill Lynch accounts. You name beneficiaries to receive the assets in your account and indicate what percentage of the assets each beneficiary will receive. Upon your death, the assets will be transferred to your named beneficiaries. As long as you are alive, you continue to control your account. Your beneficiaries have no access to or control over your account during your lifetime. You can change beneficiaries, modify the distribution percentages or revoke the TOD service at any time by notifying Merrill Lynch in writing.

HOW THE SERVICE MAY REDUCE PROBATE COSTS
Some part, if not all of your estate, may be subject to probate — the legal process of determining heirs and distributing property to them. The TOD Service lets you bypass probate on the assets in your Merrill Lynch account by instructing that the holdings be transferred directly to the beneficiaries you name. This reduces the amount of assets subject to probate and lowers probate costs. However, the assets registered under the TOD Service are included in your taxable estate and are subject to any applicable federal and state taxes.

HOW THE SERVICE DIFFERS FROM A WILL
The TOD Service applies solely to assets held in your Merrill Lynch account and supersedes any other arrangements regarding those assets listed in your will or trust. The TOD Service is not a substitute for a will or a broader estate plan. Before selecting this option, be sure to review the Service with your estate-planning attorney, tax advisor and financial advisors to see how it fits with your overall estate plan.

WHICH ASSETS ARE COVERED?
To be covered by the TOD Service, assets must be held by Merrill Lynch in your Merrill Lynch account. Stock certificates or other assets you hold yourself (in your name) are not included in the Service. In addition, certain types of assets are not eligible for the Service and may not be held in an account with the TOD Service. A Merrill Lynch financial advisor will be pleased to answer your questions and give you complete details on the Transfer on Death Service.

Investments

Retirement

College Savings

Account Services


© 2007, Merrill Lynch, Pierce, Fenner & Smith Incorporated. Member, Securities Investor Protection Corporation (SIPC). All rights reserved.  •  Legal Information