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#1914089 - 04/14/14 01:08 PM POD Accounts
CSB98 Offline
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Joined: Dec 2003
Posts: 1,362
Wisconsin
I asked this in the my state forum, but didn't get any response. Hoping someone knows the answer or can provide me with direction . . .

Upon death of the customer, is there any requirement that the bank try to contact the POD beneficiary? We have a name for the beneficiary but no contact info and the customer has been deceased for 6 months.

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#1914126 - 04/14/14 02:23 PM Re: POD Accounts CSB98
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 40,086
Cape Cod
Wisconsin's laws on POD accounts are complex. I've given them a once-over and see no affirmative obligation for the bank to seek out beneficiaries. The language of the statute seems to put the onus on the beneficiary to contact the bank. But I think you'd be wise to have someone contact legal counsel for an opinion on your question.
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