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Shhhhh… POD designations are secret

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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Learn more about Mary Beth Guard’s webinar
Insider’s Guide to Operations Procedures

First published on 07/22/2018

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