Payable On Death
Learn how payable-on-death accounts work to transfer bank accounts, CDs, and investments directly to beneficiaries without probate. Explore POD setup and ben...
What happens to my bank account if I die without setting up payable-on-death?
Without a payable-on-death designation, your bank account becomes part of your estate and must go through probate court before your heirs can access the funds. This process can take months or even years, leaving your family without immediate access to money they might need for expenses. Setting up POD beneficiaries allows the account to transfer directly to your chosen recipients within days of presenting a death certificate to the bank.
