“Thought for the Day” #603 – by Stephen R. Elville, J.D., LL.M.

October 19, 2015

Did you know that it is possible to leave assets to a beneficiary via non-probate transfer device such as a payable on death designation (POD) and still experience problems in the process of disposition?  Where there is any dissension among multiple beneficiaries of such an account, financial institutions will typically freeze the account until the dispute is resolved, sometimes resulting in litigation.  Have a healthy awareness that the world of non-probate transfer devices is not a panacea.