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?
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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 11 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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