Can a POD on a CD or money market account be taken by a trustee of a Trust who is not listed on the POD?

UPDATED: Oct 19, 2012

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Can a POD on a CD or money market account be taken by a trustee of a Trust who is not listed on the POD?

Asked on October 19, 2012 under Estate Planning, Missouri

Answers:

Catherine Blackburn / Blackburn Law Firm

Answered 10 years ago | Contributor

Unless there are some very unusual circumstances, the answer to this question is "no."  A Trustee only has authority over assets in the trust - those are assets titled in the name of the trust.  A POD account would not be titled in the name of the trust (since a trust does not die).  A POD account pays to the beneficiary listed.  It does not pass into a trust or estate.  The Trustee has no authority over it. 


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