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Tag Archives: payable on death account

what is the difference between payable on death vs transfer on death accounts?

Difference Between Transfer on Death and Payable on Death Designation

By Andre O. McDonald |

Adding a payable on death (POD) or transfer on death (TOD) designation to an account allows the assets (money and property) in that account to be passed to a named beneficiary when the original account holder dies. But what is the difference between payable on death vs transfer on death accounts? Like trusts, POD… Read More »

Are payable on death accounts a smart choice for your family?

Is a Payable on Death Account Right for You and Your Family?

By Andre O. McDonald |

Payable on death accounts, or “POD accounts” for short, have become popular for avoiding probate in the last decade or so. What is a Payable on Death Account? A POD account is a type of bank account authorized by state law which allows the account owner to designate one or more beneficiaries to receive… Read More »

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