Payable-on-Death Accounts in Kentucky: Benefits and Pitfalls
Payable-on-death (POD) designations on bank accounts are one of the simplest estate planning tools available. You name a beneficiary on your account, and when you die, the funds transfer directly to that person without going through probate. No attorney fees, no court proceedings, no waiting. But this simplicity can be deceiving. POD accounts can create…
