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15 Planning Mistakes That Can Hurt Your Retirement

March 10, 2020 · Retirement Life

Having Wrong Transfer-on-Death and Payable-on-Death Designations

Pay-on-death (“POD”) or transfer-on-death (“TOD”) accounts provide an easy alternative to keeping money out of probate. If you have a trust or estate plan, it’s extremely important that your will designations match the TOD and POD designations.

“Some people might not realize that a TOD- or POD-titled asset overrides whatever is stated in a will,” reports Fidelity.

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