Payable-on-Death Accounts: A Simple Way to Protect Your Assets

Payable-on-Death (POD) accounts offer a straightforward way to ensure your assets go directly to your chosen beneficiaries without the hassle of probate. You have the freedom to change your mind anytime—just update the beneficiary at your bank or credit union. If your circumstances change, closing the account or spending the funds is an easy way to adjust your plans.

However, it’s important to remember that a POD account trumps anything you might include in your will regarding the same assets. The beneficiary listed on the account will inherit the funds, regardless of what your will says. This makes POD accounts a powerful tool in estate planning, especially for those who want to keep things simple.

If you’re looking to create a solid Family Estate Plan, including the use of POD accounts, we’re here to help. At The Mendez Law Firm, we specialize in Estate Planning and can guide you through the process. Call us at (407) 380-7724 or Email Us TODAY at mail@themendezlawfirm.com to schedule your FREE, No Obligation, No Cost office or Virtual Zoom conference. We’ll discuss your Family Estate Plan and review other Probate avoidance and Asset Protection options that may benefit you and your family. If you are looking for a Florida estate planning attorney in the Greater Orlando Area, we are here to help with all your Estate Planning and Asset Protection needs.