What happens if one of the beneficiary’s of a POD account dies before the account owner?

My father has monies that are to be paid on death equally to his 4 children. My sister died suddenly 3 months ago and she was married. If my father does not remove her name on the POD document, will her husband automatically receive her benefit? If not, what happens to the money that was to go to my sister?

Asked on November 8, 2014 under Estate Planning, Ohio

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 6 years ago | Contributor

Because of the death of your sister, for which I am sorry, your Father should review his estate plan with a competent planner. The POD means paid on death so if your sister did not outlive your Father her estate does not inherit.  It would go to the 3 of you that survive him.  Good luck.


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