The Pros and Cons of Transfer on Death Accounts

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The Pros and Cons of Transfer on Death Accounts

The Transfer on Death (TOD) account or a Pay on Death (POD) account is a type of account often used for estate planning purposes due to its ability to bypass the probate process. Any assets placed in the account pass on directly to the beneficiary named by the owner of the account. Here’s a quick […]

The Pros and Cons of Pay on Death Designations

Pay on death (POD) designations are a common way for individuals to pass on account assets to their beneficiaries. These designations come with a variety of benefits, including: Avoiding the cost and hassle associated with probate: Perhaps the single-biggest reason people choose to use POD accounts is to avoid the probate process when assets are […]