A Payable on Death “POD” Account May NOT be Right for You . . . .
A question I often get asked is, “Why not just use Payable on Death (POD) or Transfer on Death (TOD) designations to pass on my assets and avoid probate?” What is a POD Account? A POD or TOD account is a type of financial account which allows the account owner to designate one or more beneficiaries to receive the funds left in the account when the owner dies. After the owner dies, if anything is left in the POD account, the beneficiaries chosen by the owner will be able to wi
