Before we discuss what happens to payable on death accounts following someone’s passing, let’s define what this process is. A payable on death (POD) account is an instrument that is designed by banks and credit unions. They provide a form for account holders to fill out in order to list beneficiaries who will receive funds upon their passing. These funds are transferred immediately when a death … [Read more...] about What Happens to Payable on Death Accounts Following Someone’s Passing?
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