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 ...

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 ...

In those cases, there is also a way to transfer those assets outside of probate using what are commonly called Payable on Death (POD ... remind our clients to check their beneficiary designations ...