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#2136251 - 06/28/17 04:18 PM Joint owner on account also named POD?
Bec Offline
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Bec
Joined: Jul 2010
Posts: 1,114
The Great White North
Jointly owned account with father and son. Father wants all siblings including the joint owner son to be listed as beneficiaries. My thought is it seems pointless to list the son as the beneficiary. The money won't go to the PODs until the last owner dies, so in any event, the son would be deceased prior to the funds being disbursed to the PODS.
Does anyone see an issue with the joint owner being listed also as a beneficiary?
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#2136254 - 06/28/17 04:29 PM Re: Joint owner on account also named POD? Bec
DoS Offline
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DoS
Joined: Apr 2012
Posts: 264
one state over
Originally Posted By Bec

Does anyone see an issue with the joint owner being listed also as a beneficiary?


Outside of being silly, I don't see any issues
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#2136262 - 06/28/17 04:53 PM Re: Joint owner on account also named POD? Bec
#Just Jay Offline
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#Just Jay
Joined: Oct 2006
Posts: 14,390
Cheeseheadland
Besides cannot imagine how a platform could even handle this titling, one cannot be their own beneficiary.
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#2136265 - 06/28/17 04:57 PM Re: Joint owner on account also named POD? Bec
RockChucker, CAMS Offline
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Joined: Jul 2013
Posts: 1,691
The Country
While the customer "wants it" that doesn't make it logical. I'm sure you can explain to the customer or new account staff how silly that structure is.
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#2136270 - 06/28/17 05:18 PM Re: Joint owner on account also named POD? Bec
Bec Offline
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Bec
Joined: Jul 2010
Posts: 1,114
The Great White North
Thanks all, I appreciate your opinions on this. The more I think about it, the sillier it become smile
I think we will educate our accountholder and not let them be their own beneficiary.
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