Answer:
Answer by Randy Carey: Typically, it would go to the remaining three children, but this would be a matter of State law.
Answer:
Answer by John Burnett: I agree with Randy. But be very careful about checking your state laws. In Oklahoma, for example, if a POD beneficiary predeceases the account owner, when the account owner dies, the funds go to the estate of the beneficiary. I understand that a Totten Trust is not exactly a POD account, but the concept is the same and the illustration is meant to strengthen the "check state law" admonition.
First published on BankersOnline.com 6/4/12
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