# Payable-on-Death Account

**IRI:** https://folio.openlegalstandard.org/RBuTEIGtnRtDRIUgtUfxTLS

## Labels

**Alternative Labels:**

- POD

## Definition

A Payable-on-Death (POD) Account is a financial account, such as a bank account or a certificate of deposit, that allows the account holder to designate a specific beneficiary who will receive the funds in the account upon the account holder's death. This designation operates outside of the probate process, making it a straightforward way to transfer assets to a chosen beneficiary without the need for a will or going through the probate court.

## Sub Class Of

- https://folio.openlegalstandard.org/R8Ahr1iRMkczkHNvcrZ3KOG

## See Also

- https://folio.openlegalstandard.org/RBFgL4Dth9VONjmIdH0bEOs

**Deprecated:** False

**Source:** From LIST: Legal Issues Taxonomy — https://taxonomy.legal/