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Shhhhh… POD designations are secret

Answered by: 

Question: 
Dan’s account names his son Rudy as the pay on death beneficiary. Dan is currently very ill, in the hospital. Can we tell Rudy he is on there as POD?
Answer: 

No. Rudy currently has no present interest in the account. Any interest he has is contingent upon two things: Dan dying; and Dan not changing or revoking the POD designation before his death. It would be a violation of Dan’s financial privacy for you to reveal anything about his account to Rudy.
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First published on 09/03/2017

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