http://www.pozew.org Money, loans, mortgages, stocks Mon, 29 Mar 2010 10:01:59 +0000 en hourly 1 http://wordpress.org/?v=3.2.1 http://www.pozew.org/payable-on-death-pod-or-transfer-on-death-tod-registration/ http://www.pozew.org/payable-on-death-pod-or-transfer-on-death-tod-registration/#comments Mon, 13 Jul 2009 18:56:44 +0000 admin http://www.pozew.org/?p=39 Savings accounts may be made payable on death of the owner to a named beneficiary, if living.11 Securities may be registered in beneficiary form that indicates the present owner and the intended beneficiary who will become the owner upon the death of the present owner.12 Sole owners or multiple owners with right of survivorship may use this form to designate a beneficiary to take ownership at the deaths of all owners. This form is created by using the words “transfer on death” or “TOD” or “pay on death” or “POD” after the name of the registered owner and before the name of the beneficiary. On proof of death of all owners and compliance with other requirements of the registering entity, the security may be reregistered in the name of the beneficiary. If no beneficiary survives the owner, the security belongs to the estate of the owner. Debts, taxes, and expenses of administration, including allowances to the surviving spouse and minor or dependent children take precedence over the beneficial owner’s interest if other estate assets are insufficient. Registering entities are not required to offer this form, but many do offer it.

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