MLchartDataset catalogue

POD

Term · Law · MLC-T-LAW-003780

Payable on Death, a designation on a bank account or investment account that specifies a beneficiary who will receive the funds directly upon the death of the account holder. This arrangement allows assets to bypass probate, facilitating a quicker transfer to the designated individual. It is a common estate planning tool for certain types of assets.

Table 1. Record
IdentifierMLC-T-LAW-003780
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-003780",
  "term": "POD",
  "field": "Law",
  "definition": "Payable on Death, a designation on a bank account or investment account that specifies a beneficiary who will receive the funds directly upon the death of the account holder. This arrangement allows assets to bypass probate, facilitating a quicker transfer to the designated individual. It is a common estate planning tool for certain types of assets.",
  "url": "https://mlchart.com/terminology/law/pod/"
}

Record 3,801 of 5,441 in Law terminology (MLC-0107). Request the full dataset.