P.O.D. account

Definition of "P.O.D. account"
  1. Payable on death account: an account where funds are payable on demand to the owner or, upon the owner's passing, to one or more chosen beneficiaries
How to use "P.O.D. account" in a sentence
  1. After her grandmother's death, she discovered she was listed on her grandmother's P.O.D. account.
  2. To avoid probate, he set up a P.O.D. account with his children as beneficiaries.
  3. The bank requested additional documentation before releasing the funds from the P.O.D. account.

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