Payable-On-Death Accounts

Payable-On-Death Accounts

by Richard C. Wilson & Family Offices Group Association Team

Family Office Definition: Payable-On-Death Accounts

Payable-On-Death Accounts definition:  Payable-on-death accounts include bank or credit union accounts (i.e. checking, savings, certificates of deposit, savings bonds). These accounts can be distributed to named beneficiaries upon the client holder’s death outside of the probate process.

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