If someone dies who was the POD on a CD and then the owner of the CD dies, who gets the funds?

Get Legal Help Today

 Secured with SHA-256 Encryption

If someone dies who was the POD on a CD and then the owner of the CD dies, who gets the funds?

The Will states that the assets to be sold are to be split between the son and

daughter. Basically there are no assets.

Asked on September 27, 2018 under Estate Planning, Georgia

Answers:

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

Answered 3 years ago | Contributor

I am so sorry for your loss.  If the owner of the CD died and the POD beneficiary was still living at the time, it passed to the POD owner automatically at the time of the owner's death.  I am assuming the owner was your Mother and the POD was your brother.  IF, then, your brother passed away after, the CD would be a part of his estate, and the funds would pass through his Will or the intestacy statute if he hd none. So I think that the attorney mis-spoke the first time and corrected himself or herself after.  I think that the Brother's children get it all.  Good luck.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption