A payable-on-death account, also called a POD account, is a common way to keep bank and investment accounts out of probate, the court-supervised process that oversees distributing a deceased person’s property. Most people want to avoid their estate going through probate because their heirs will receive the inheritance faster, privately,...

Payable on death accounts, or “POD accounts” for short, have become popular for avoiding probate in the last decade or so. 
What is a POD Account?
A POD account is a type of bank account authorized by state law which allows the account owner to designate one or more beneficiaries to...