Is this a Joint Account or a POD Account?
Answer by John Burnett, BOL Gurus Guru Bio
Question: Is an account titled "John or Mary Doe, POD Baby Doe" a joint account or a POD account? If it is a POD and John dies, does the money go to Mary or the baby?
Answer: Unless your state law reads differently, that wording describes a joint tenancy with right of survivorship (or a tenancy by the entirety) with a beneficiary named to assume ownership upon the death of the last surviving owner. If John dies, Mary owns the account. Baby would still have his/her beneficiary status, but Mary retains the right to revoke it until her death.
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