TOD Accounts Versus Revocable Trusts – Which Is Better?
by Tracy Craig, Fellow, ACTEC, AEP®, Emily Parker Beekman
Dec 02, 2021
2 minutes
In recent years the use of TOD (transfer on death) or POD (payable on death) accounts has proliferated, leading many to ask why they should bother working with an attorney to prepare a revocable trust. After all, why do you need a trust if you can just use payable-on-death or transfer-on-death accounts to avoid the probate process when someone dies?
What is a TOD account or POD account?
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