If you are named on a POD, can they take the money or force you to pay the deceased’s debts if their estate is in probate?

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If you are named on a POD, can they take the money or force you to pay the deceased’s debts if their estate is in probate?

Asked on March 30, 2012 under Estate Planning, Washington

Answers:

Steven Fromm / Steven J Fromm & Associates, P.C.

Answered 9 years ago | Contributor

No the POD account is a nonprobate asset and is not subject to the probate process.

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

Answered 9 years ago | Contributor

I am so sorry for your loss. A POD is a payable on death account which means that the money is transferred to the payee- you here - on the death of the decedent.  It does no go through probate.  But one may need to read the contents of the Will as sometimes a decedent does mention how the funds are to be paid out , etc.  Generally speaking, "they" can not take the money or force you to pay debts.  But please seek legal help.  Good luck.


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