13 September 2011 0 Comments

What is a POD?

Follow Us

I have had clients ask me what a POD is.  It is an account that you can set up in your bank or with your financial broker that allows you to name a beneficiary to receive all the money in that account directly when you die.

Your beneficiary does not have to be an individual if you so desire; it can be an organization or a favorite charity.  The beneficiary will not be able to withdraw money from the account while you are still alive.

These types of accounts are easy to set up.  If you have any questions, contact a Riverside Family Law attorney who is familiar with estate planning matters and can advise you about what is right for your situation.

Leave a Reply

You must be logged in to post a comment.