In New York State can we have more than one POD beneficiary listed on an account: Ex John Doe POD Mary Doe and Mark Doe is this legal or is only one POD beneificary allowed I understand it changes with each state law.???

Yes, you can have more than one beneficiary.

We have had it and it was a nighmare. What do you do if one party wants to close the account and can not get the other party to agree or can not find the other person?

Not sure what the hassle would be. Divide the account in two and cut checks made payable to the bene's - give one to the person standing there and hold the other until escheatment if they never showed up. The bene's have no say in keeping the account open.

§ 7-5.7. Multiple beneficiaries
(a) Whenever any proceeds of a trust account would pass pursuant to section 7-5.2 to two or more beneficiaries, such proceeds shall pass to such beneficiaries in equal proportions, unless the terms of the trust provide otherwise.
(b) Whenever any proceeds of a trust account would pass pursuant to section 7-5.2 to two or more beneficiaries, and one or more of the beneficiaries predeceases the depositor, such proceeds shall pass to the surviving beneficiary or beneficiaries in equal proportions, unless the terms of the trust provide otherwise.

1 no authorizaton to cut the check.

2 Benificiary want to pick up funds in another state.

3 Escheatment

4 Safekeeping

5 Leaving the funds in account and returned mail

6 funds are to pass at death to surviving beneficiary, now we have no tin for the beneficary.

7 legal issure for beneficary (subpeona, restraing orders)

8 beneficary passing away before collecting funds

Unlimited amount of Beneficiary only add to the problems