TOD investment??

[Masonlass]

I had a lovely friend who told me that she had invested money which was in our names (DH and I) and when she passed her financial advisor was to make contact fairly quickly after, with us and others she had done this for. She stated she had done this in individuals names so it would not be part of her estate. Sadly she has now died. As I have not heard from the financial advisor I contacted him but his secretary is not giving anything away, not answering me when I asked if there is an investment in our name and just quotes data protection!! Another person who was also told they had an investment in their name has also ? When we will hear to me.
I have found something called a Transfer on death investment but this appears to be in the USA.
I just wondered if anyone had heard of such a thing ? My friend was pretty savvy with her money so I would be surprised if she got it wrong.

Is this a properly authorised financial adviser with an office?
To put investments into someone else’s name you would still need to go through money laundering checks - did you ever supply your ID etc?

No we didn’t and yes a FA with office etc!

Who paid tax on the investment income do you know?

She could have put investments in trust with you and others named as beneficiaries. Trust usually fall outside estate provided done before 7 years of passing.

Do you know who is the Executor? The estate may need Probate.

I am sorry you lost your friend.