What are the pros and cons of Payable-on-Death accounts?
What are the pros and cons of Payable-on-Death accounts?
Aug 30, 2022
nj.com
How a Payable on Death (POD) Payable on death (POD) is a designation that allows an account holder to name a beneficiary who will automatically receive the assets in the account upon the account owner's death, bypassing probate. This is a free and simple way to transfer bank accounts, CDs, and other financial assets, but beneficiaries cannot access the money before the owner's death and it is not a substitute for comprehensive estate planning. 🚨 Follow for more 🚨 #smartmoney #savings #financia
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