Beneficiary Agreement

Last Updated on July 24, 2023

Notice: All TOD Accounts are subject to receipt and acceptance by YieldStreet Inc. and its affiliates (collectively “YieldStreet”) of all required documentation. No TOD Designation (defined below) will become effective until all required documentation is received and accepted by YieldStreet.

Establishing a Transfer on Death Account

The owner of the account (the “Account Owner”) hereby requests that YieldStreet establish a Transfer on Death Account (a “TOD Account”); and in consideration for this action agrees that this Transfer on Death (TOD) Beneficiary Agreement (“TOD Agreement”) and any other applicable written agreements between YieldStreet and Account Owner, shall govern each TOD Account. In addition, the TOD Account is subject to the rules of the Securities Transfer Association (“STA Rules”). In the event of any conflict between this TOD Agreement and the STA Rules, the terms and provisions of this TOD Agreement shall control.

Eligibility/Limited Availability

Eligible account types include individual, [revocable trust, irrevocable trust, checkbook IRA, solo 401(k), entity and retirement account]. A transfer on death designation of any beneficiary with respect to a TOD Account (a “TOD Designation”) is not permitted on accounts that are collateralized or pledged, and is not available to residents of the State of Louisiana. If at any point, the TOD Account becomes ineligible, this TOD Agreement will terminate immediately, all TOD Designations will be null and void, and the assets in the TOD Account (“TOD Account Assets”) will be transferred to the estate of the Account Owner (the “Account Owner’s Estate”).

Designation of Beneficiary

Beneficiaries must be designated on the “Add New Beneficiary” form (“TOD Election”) on the website (the “Platform”). If all designated beneficiaries predecease the Account Owner (or, in the case of a trust, corporation, or other beneficiary entity, if it has terminated, been dissolved, or otherwise ceased to exist prior to the death of the Account Owner), the TOD Account Assets will become part of the Account Owner’s Estate. If a beneficiary survives the Account Owner but is not alive at the time of the transfer of TOD Account Assets, the TOD Account Assets will become part of the estate of the beneficiary. If YieldStreet in its sole and absolute discretion cannot determine whether a beneficiary survived the Account Owner by 120 hours, the beneficiary will be deemed not to have survived the Account Owner. No guardian, conservator, attorney-in-fact, or other agent of the Account Owner may establish or change any beneficiary of a TOD Account on behalf of their principal or ward. YieldStreet will only establish or change a beneficiary of a TOD Account upon the Account Owner’s completion of a TOD Election or upon the final non-appealable order of a court of competent jurisdiction.

Changes to and Revocation of Beneficiary Designations

Account Owner may make a change or revocation of a designation of beneficiary(ies) by completing a new TOD Election on the Platform. The execution and acceptance of a new TOD Election automatically revokes all prior beneficiary designations. Changes in the relationship between the Account Owner and designated beneficiary (such as, marriage, divorce, or adoption) will not automatically add or revoke beneficiary designations. For example, if an Account Owner designated a spouse as beneficiary and they were subsequently divorced, the former spouse will remain beneficiary on the TOD Account unless the Account Owner submits a new TOD Election to YieldStreet which becomes effective.

Transfer of TOD Account Assets on Death

Upon the death of the Account Owner, the beneficiary assumes control of the TOD Account Assets even if the Account Owner’s will, trust, or other instrument provides for a contrary or inconsistent disposition. Account Owner specifically directs YieldStreet to make the TOD Transfer (as defined below) in accordance with this TOD Agreement and the last executed and accepted TOD Election. Account Owner desires that upon the death of the Account Owner, the TOD Account Assets shall be transferred to the beneficiary (except a beneficiary who disclaims the TOD Account Assets) (the “TOD Transfer”). With respect to securities in the TOD Account, YieldStreet shall not be responsible to the beneficiary for interest, dividends or other distributions paid after the death of the Account Owner, but before reregistration of the securities or securities account in the name of the beneficiary. Should YieldStreet receive notice of the death of the Account Owner, YieldStreet has no obligation to (a) verify the Account Owner’s death or the Account Owner’s marital status at the time of death of the Account Owner, (b) locate the beneficiary, (c) notify any person of any transfer of the TOD Account Assets, or (d) independently verify any information submitted. Because it is the beneficiary’s responsibility to initiate transfer of the TOD Account Assets, YieldStreet is expressly not liable for any loss that could or does occur following the death of the Account Owner and prior to proof of beneficiary’s entitlement to the TOD Account Assets and the effective transfer thereof. The Account Owner’s Estate shall be liable for any net debit balance or loss in the TOD Account in any way resulting from the completion of transactions initiated prior to the actual receipt by YieldStreet of written notice of the death of the Account Owner. YieldStreet is authorized to conclusively rely on any representation of facts made by the Account Owner, the personal representative of the estate of the Account Owner, or any other person or source deemed appropriate by YieldStreet in determining the identity of unnamed beneficiaries. Should a beneficiary disclaim the TOD Account Assets, in whole or in part, then the disclaimed TOD Account Assets shall be transferred to the contingent beneficiary, if so designated. Should the contingent beneficiary disclaim the TOD Account Assets, the property disclaimed shall become part of the Account Owner’s Estate. Account Owner, the Account Owner’s Estate, and his or her successors-in-interest, including all beneficiaries, further understand and agree that, notwithstanding the above and any information or instructions provided by such persons or sources, YieldStreet may, in its sole and absolute discretion, require additional documentation, consult with counsel, or institute legal proceedings in order to determine the proper identity of beneficiaries, all of which shall be at the expense of the TOD Account. In the event that YieldStreet is unable to identify the beneficiaries from the documents provided, the TOD Account Assets will become part of the Account Owner’s Estate. In case of a dispute concerning the transfer of the TOD Account to the beneficiary, the Account Owner’s Estate, or the Account Owner’s surviving spouse, heirs, creditors, representatives, or any other person or entity, YieldStreet may require the parties in interest to arrive at a final resolution by adjudication, arbitration, or other method acceptable to YieldStreet, prior to transferring any TOD Account Assets. YieldStreet, in its sole and absolute discretion, may at any time suspend all activity in, or distributions from, the TOD Account pending final instructions from a court or arbitration forum of competent jurisdiction.

Payments to Minors and Incapacitated Beneficiaries

Account Owner may not designate a minor as a beneficiary. If Account Owner has designated a beneficiary contrary to the foregoing, such designation shall be null and void ab initio and, following the death of the Account Owner, YieldStreet may transfer the TOD Account Assets to the Account Owner’s Estate and be discharged from its obligations and released thereby. If, at the time of the Account Owner’s death, the beneficiary is an incapacitated adult who is represented by a duly appointed guardian, conservator, or custodian (“Beneficiary’s Nominee”), YieldStreet may transfer the TOD Account Assets to the Beneficiary’s Nominee and be fully discharged from its obligations and released thereby. If, after a reasonable time following the death of the Account Owner, no Beneficiary’s Nominee or appropriate substitute has accepted the TOD Account Assets, YieldStreet may transfer the TOD Account Assets to the Account Owner’s Estate and be discharged from its obligations and released thereby.

Designations in Community Property States

If Account Owner is married and domiciled in a “community property” state, which includes Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington and Wisconsin (or any other state which becomes a “community property” state after the date of this TOD Agreement), Account Owner may only designate his or her spouse as beneficiary. If Account Owner has designated a beneficiary contrary to the foregoing, such designation shall be null and void ab initio and, following the death of the Account Owner, YieldStreet may transfer the TOD Account Assets to the Account Owner’s Estate and be discharged from its obligations and released thereby.


Account Owner acknowledges that the features of a TOD Account contain certain legal, accounting and tax implications. YieldStreet cannot advise whether the TOD designation is or is not appropriate for the Account Owner’s tax or estate planning. By entering into this TOD Agreement, Account Owner acknowledges and agrees that neither YieldStreet nor any of its affiliates or any of its and their respective officers, directors, employees or representatives has furnished such advice and that Account Owner has consulted with legal, accounting and/or tax advisors in connection with the beneficiary designation for the TOD Account.


The Account Owner, the Account Owner’s Estate and his or her successors-in-interest, including all beneficiaries, shall fully indemnify and hold harmless YieldStreet, its agents, affiliates, control persons, successors, and assigns and their directors, officers, employees, and agents from and against all suits, claims, actions, costs, expenses and liabilities, including attorneys’ fees, by or to any person or entity, including any beneficiary, any creditor of the Account Owner, the Account Owner’s Estate and the Account Owner’s heirs, successors, and assigns, arising out of or relating to:

  • Any conflicting designation of beneficiary under this TOD Agreement made in the Account Owner’s will, revocable living trust, or any other instrument.
  • Any written change of beneficiaries that the Account Owner has made that has not been accepted by YieldStreet as provided herein.
  • Any misrepresentation or breach of any warranty or representation contained in this TOD Agreement.
  • Any action YieldStreet takes in connection with the registration, any re-registration in the name of the beneficiary or for the benefit of the beneficiary, made as requested or authorized under this TOD Agreement.
  • Account Owner’s designation of beneficiaries in a manner contrary to or inconsistent with state law (including, without limitation, in contravention of state community property or marital statutes or requirements).
  • Any other action taken by YieldStreet in opening and maintaining an account under this TOD Agreement, registering assets in the name of the TOD Account and completing transfers from the TOD Account, including, but not limited to, YieldStreet’s reliance on individuals named in this TOD Agreement or YieldStreet’s omission or inaction in relation to the TOD Account based on reliance on such individuals or any representation or warranty in this TOD Agreement

This indemnity shall include but not be limited to claims by any person, taxing authority, or entity in relation to the TOD Account Assets either prior or subsequent to their transfer to the designated TOD beneficiary. YieldStreet shall be entitled to recover the full amount of this indemnity from the TOD Account Assets or any other accounts maintained by the Account Owner at YieldStreet prior to any transfer.

Governing Law and Jurisdiction

The TOD Agreement and its provisions are effective immediately upon YieldStreet’s receipt and acceptance of the TOD Agreement and TOD Election as provided herein. The TOD Agreement, and the duties and obligations of YieldStreet under the TOD Agreement, shall be construed, administered, and enforced in accordance with the laws of the State of New York, without giving effect to conflicts of law provisions thereof, as applied to contracts entered into and completely performed within said state, and shall inure to the benefit of YieldStreet’s successors and assigns, whether by merger, consolidation or otherwise, and shall be binding upon the heirs, personal representatives, successors, and assigns of the Account Owner, the Account Owner’s Estate and the beneficiaries designated by the Account Owner. By entering into this TOD Agreement, Account Owner consents to the exclusive jurisdiction of and venue within the State of New York for all disputes arising out of or relating to the execution and operation of this TOD Agreement.

Unilateral Revision

YieldStreet may amend this TOD Agreement prospectively for any reason, or retroactively if necessary to comply with changes to New York or federal law. Within a reasonable time after such amendment, YieldStreet shall notify the Account Owner of such amendment. Any amendment is binding on the Account Owner, as if such amendment is included in this TOD Agreement. If the Account Owner does not agree to any amendment and no longer wishes to designate a beneficiary in accordance with this TOD Agreement, the Account Owner must revoke his or her TOD Election on the Platform.

Additional Provisions

  • YieldStreet reserves the right to refuse to accept or renew this TOD Agreement and may terminate it at any time in its sole discretion and for any reason.
  • If any provision hereof is or at any time should become inconsistent with any present or future law, rule, or regulation of any securities or commodities exchange or of any state or other sovereign government or an agency or regulatory body thereof, and if any of these entities have jurisdiction over the subject matter of this TOD Agreement, said provision shall be deemed to be superseded or modified to conform to such law, rule, or regulation, but in all other respects the TOD Agreement shall continue and remain in full force and effect.
  • No failure to exercise, nor any delay in exercising, on the part of YieldStreet, any right or remedy hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any right or remedy prevent any further or other exercise thereof or the exercise of any other right or remedy. The rights and remedies herein provided are cumulative and not exclusive of any rights or remedies provided by law.
  • A change by YieldStreet of the account number designating the TOD Account shall not affect this TOD Agreement or the TOD Designation established.
  • The provisions of this TOD Agreement, including the indemnities provided for herein, shall be binding upon the Account Owner’s Estate, beneficiaries, heirs, executors, administrators, successors, and assigns, shall inure to the benefit of YieldStreet, its successors, assigns, and affiliated companies, agents, control persons and its and their respective directors, officers and employees,, and shall survive the termination of this TOD Agreement and/or the TOD Account.
  • State law creates the TOD Designation and not all states have enacted TOD privileges for their residents. However, once Account Owner has established a TOD Account, YieldStreet will continue to treat the TOD Account as such in reliance on the continued effectiveness of this TOD Agreement, without regard to subsequent changes in the Account Owner’s state of residence, even if the Account Owner moves to a jurisdiction that does not afford its residents transfer on death privileges.
  • YieldStreet has no responsibility to ascertain the respective separate, community or quasi-community property interests of spouses or domestic partners, nor to obtain any spousal consent to beneficiary designations in this TOD Agreement.
  • If no beneficiary makes a claim for the TOD Account Assets within six (6) months of the death of the Account Owner, upon instructions by the personal representative of the Account Owner the TOD Account Assets will be a part of the Account Owner’s Estate.
  • The Account Owner agrees and acknowledges that this TOD Agreement and TOD Election is hereby executed by electronic signature in accordance with the U.S. federal ESIGN Act of 2000 (including .pdf or any electronic signature complying with the U.S. federal ESIGN Act of 2000, e.g., clicking “I agree” or use of and shall be deemed to have been duly and validly delivered and be valid and effective for all purposes. The Account Owner consents and agrees that its electronic signature meets the requirements of an original signature as if actually signed by Account Owner in writing. Further, Account Owner agrees that no certification authority or other third-party verification is necessary to the enforceability of its signature. Account Owner agrees that Account Owner will not raise the use of an electronic signature as a defense to the enforcement of this TOD Agreement and/or TOD Election.

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