How a Payable on Death (POD) Account Works - Investopedia
May 21, 2025 · A bank account with a named beneficiary is a payable-on-death (POD) account. Also known as a Totten trust, a POD names the individual or entity the account holder wants to receive …
What Is A Payable-On-Death (POD) Bank Account? - Forbes
Sep 23, 2025 · A payable-on-death bank account, also referred to as a POD account, lets you assign one or more beneficiaries to receive the funds in an account after you pass away.
Payable-on-Death Bank Account: Pros and Cons - Experian
Nov 13, 2024 · Review the pros and cons of payable-on-death (POD) bank accounts and how they affect asset transfer, probate, taxes and flexibility.
Disadvantages and Advantages of POD Designations to ... - AllLaw
Aug 29, 2023 · A POD account (sometimes called a "Totten trust") is a type of bank account—like a checking account, savings account, or certificate of deposit—that has a "payable on death" designation.
How Do Payable on Death Accounts Actually Work? (w/Examples ...
Feb 3, 2026 · A Payable on Death (POD) account lets you name someone who will automatically receive your bank account or certificate of deposit when you die, without going through probate …
TOD vs. POD Bank Account Rules: What You Need to Know
Jan 15, 2026 · POD accounts are typically bank accounts — such as checking accounts, savings accounts or certificates of deposit — that allow the account owner to designate a beneficiary or …
Pros and Cons: Payable on Death (POD) Accounts - SmartAsset
Dec 19, 2025 · Payable on death accounts can streamline the transfer of assets to loved ones after you pass away. Also referred to as a POD account or Totten trust, a payable-on-death account can be …
Payable on Death Beneficiary for Accounts - FindLaw
Jun 9, 2025 · A payable on death account (POD) is also called a transfer on death account or (TOD). POD accounts sometimes function like an informal trust (sometimes called a Totten trust) because …
What Is a Payable on Death Account? - LegalClarity
Dec 5, 2025 · A Payable on Death (POD) account is a simple, no-cost estate planning tool that allows the owner of a bank account to designate a beneficiary who will automatically receive the funds upon …
Payable-on-Death (POD) Bank Accounts Guide | SoFi
Feb 26, 2025 · Payable on death (POD) accounts allow a bank to transfer assets to a designated person upon the account holder’s death. Learn the details and pros and cons.