Estate planning experts explain how Pay on Death (POD) accounts, aka TOD or Totten Trust, work and what account owners should be aware of before identifying a beneficiary on their IRA, retirement account, bank account, or Transfer on Death deed. #estateplanning #actec #bankaccount
The American College of Trust and Estate Counsel (ACTEC) is a national association of approximately 2,400 peer-elected lawyers and law professors from across the United States and abroad with expertise in estate planning, probate, and trust administration.
In this video:
00:00 Introduction
00:34 Pay on Death Account / Transfer on Death Account
02:04 Transfer on Death Deed
02:23 Considerations for Pay on Death Accounts
04:11 Complexities of Pay on Death Accounts
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