Legal Question in Wills and Trusts in New York

What takes priority, as directed in a will or as indicated as POD(PAYABLE ON DEATH TO) OF A BANK ACCOUNT?


Asked on 3/24/16, 8:13 pm

2 Answers from Attorneys
Arnold Nager Arnold H. Nager, Esquire

A POD account, otherwise known as a Totten Trust takes priority. The bank will require documentation of the death of the principal.

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Answered on 3/25/16, 6:29 am
David Slater David P. Slater, Esq.

The POD is not part of the estate.

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Answered on 3/25/16, 9:18 am


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