Dear Liz: Is naming a beneficiary for a nonretirement, “payable on death” account as effective as putting the account in a living trust? It seems easier than doing all the paperwork each time I open ...

Dear Liz: You recently wrote about the drawbacks of payable on death accounts, including that the funds go directly to the beneficiaries before the estate’s expenses are paid. Aren’t all 401(k)s ...

Dear Liz: Is naming a beneficiary for a nonretirement, “payable on death” account as effective as putting the account in a living trust? It seems easier than doing all the paperwork each time I open ...

Prevent frozen bank accounts after death. Designate a payable on death beneficiary and consider a trust for stronger ...

Forbes contributors publish independent expert analyses and insights. Bob Carlson researches all facets of retirement finances. An increasingly popular way to avoid probate and other estate planning ...

Tue, February 10, 2026 at 7:26 PM UTC When someone dies, what happens to their bank accounts depends almost entirely on one thing: whether they set up a plan for that money. Accounts with a named ...

I have a very modest sum in my CD, checking, and savings accounts (approximately $150,000). I have set up a payable on death (POD) designation on all of these accounts. I have named my daughter as the ...

When someone dies, even seemingly simple assets like bank accounts can become complicated fast. Whether those funds can get transferred to loved ones or go to probate often comes down to a few small ...

When accounts are jointly owned or have named beneficiaries, they typically transfer automatically at death. But even when ...