Legal Question in Wills and Trusts in Indiana

POD Savings Bonds/Bank Accounts

A friend recently died and left in my possession several savings bonds and bank account books, all with POD's designated to different individuals. Can I distribute to persons designated or must this go through probate?


Asked on 6/22/08, 12:01 am

1 Answer from Attorneys
Samuel Hasler Samuel Hasler

Re: POD Savings Bonds/Bank Accounts

POD accounts are a non-probate transfer. However, if you are the executor, you may be responsible for the inheritance tax on this money. Note the amount and the person receiving the money. Why if it is a non-probate asset is it part of the inheritance tax? Because the taxman never lets any money go.

Read more
Answered on 6/22/08, 4:22 pm


Related Questions & Answers

More Probate, Trusts, Wills & Estates questions and answers in Indiana