Commissions do not affect our editors' opinions or evaluations. A payable-on-death (POD) bank account simplifies and speeds up the process of transferring the assets in your bank or credit union ...

The owners of many bank accounts, especially savings and fixed deposit accounts name payable-on-death beneficiaries ... at the deceased person’s bank statements; just look for the term ...

What Is a Payable on Death Account? A payable on death (POD) account is a type of bank account that eases the process of estate planning. In essence, a POD account allows the account holder to ...

Investopedia / Danie Drankwalter Payable on death (POD) bypasses the probate process and ensures beneficiaries can access funds from an inherited bank account promptly. A bank account with a named ...

Both Payable-on ... the event of your death, said Gene McGovern, a certified financial planner with McGovern Financial Advisors in Westfield. A POD designation is used for bank accounts such ...

Dear Liz: You recently wrote about the drawbacks of payable on death accounts, including that the funds go directly to the beneficiaries before the estate’s expenses are paid. Aren’t all 401(k ...

A Payable on Death account is a type of bank account relationship that allows the account holder to designate one or more beneficiaries who will receive the funds held in the account upon the ...

A payable on death account is a type of bank account that can be used for estate planning purposes. You can create this type of account at a bank or credit union and your bank may also let you ...