Riverside, CA asked in Estate Planning for Oklahoma

Q: If someone makes a will and then lists someone else as POD of their bank account. What happens? Who would the money go?

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4 Lawyer Answers
Anna L Self
Anna L Self
PREMIUM
Answered
  • Estate Planning Lawyer
  • Oklahoma City, OK
  • Licensed in Oklahoma

A: It would go to the person listed as POD unless they predeceased the account holder. POD controls over the will if beneficiary of the account (POD) is living.

Richard Winblad agrees with this answer

Matt Fleischer
Matt Fleischer
PREMIUM
Answered
  • Oklahoma City, OK
  • Licensed in Oklahoma

A: The individual listed on the bank account as POD beneficiary will receive the money in the bank account.

Charles Watts agrees with this answer

James Tack Jr
James Tack Jr
Answered
  • Oklahoma City, OK
  • Licensed in Oklahoma

A: A person's assets that have a beneficiary designation go to the person specified in the designation. Such assets include bank accounts, stock accounts, life insurance, etc. Those types of assets pass outside of the probate case if there is a proper beneficiary designation. Real estate which is held in a joint tenancy (with rights of survivorship) also passes outside the probate case. The will covers all assets specified specifically or generally.

Charles Watts agrees with this answer

Richard Winblad
Richard Winblad
PREMIUM
Answered
  • Estate Planning Lawyer
  • Edmond, OK
  • Licensed in Oklahoma

A: I agree the the answers below, however if the individual named was married to the account holder then divorced prior to his or her death, then Title 15 O.S. Section 178 may prevent the divorced beneficiary from collecting.

Charles Watts agrees with this answer

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