cd deposit with pod on it
My dad had a cd with pod stamped on it with his names and my brother on it. He passed away does this belong to my brother
Asked on 11/17/08, 5:33 pm
2 Answers from Attorneys
George Zuganelis
Zuganelis & Zuganelis, Attorneys at Law, P.C.
Re: cd deposit with pod on it
In Illinois, when "pay on death" (pod)is on the account and it's to your brother, he owns the cd.
This is not legal advice, but just an answer to a simple question. Please seek the advice of an attorney in your area.
Answered on 11/18/08, 5:30 pm
Marshall Snyder
Law Office Of Marshall Snyder
Re: cd deposit with pod on it
You cannot find out if the CD is a POD account until the estate is probated. That will require the financial entity holding the CD to inform the estate whether it is a POD account or not. If not, the CD goes to the beneficiaries of the Will or, if there is no Will, to the heirs.
Answered on 11/17/08, 9:28 pm
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