Contingent beneficiary on a POD?

Answered by:

Question:

My customer wants a backup beneficiary on a pay on death account. Can we do this?

Answer:

Pay on Death accounts are a matter of state law. It is rare to see a contingent POD beneficiary, but it happens in some states. Find out if your state permits it and, if so, how to set it up.
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Learn more about Deborah Crawford’s webinar Personal Accounts: Vital Questions