Personal Rep cashing a CD

Posted By: Tessie

Personal Rep cashing a CD - 05/08/12 06:33 PM

Can someone who is Personal Rep cash a POD CD made out to someone else or does the beneficiary have to cash it? How far does the power of a Personal Rep go?
Posted By: Doug Hendrickson

Re: Personal Rep cashing a CD - 05/08/12 06:47 PM

The Personal Representative is usually responsible for anything that is part of the estate. In general, if a CD had a POD on it, it is not considered part of the estate and belongs to, and should be cashed by, the beneficiary.