{"iri":"http://lmss.sali.org/RBuTEIGtnRtDRIUgtUfxTLS","id":"RBuTEIGtnRtDRIUgtUfxTLS","label":"Payable-on-Death Account","definition":"A Payable-on-Death (POD) Account is a financial account, such as a bank account or a certificate of deposit, that allows the account holder to designate a specific beneficiary who will receive the funds in the account upon the account holder's death. This designation operates outside of the probate process, making it a straightforward way to transfer assets to a chosen beneficiary without the need for a will or going through the probate court.","prefLabels":[],"altLabels":["POD"],"examples":[],"notes":[],"sources":["From LIST: Legal Issues Taxonomy — https://taxonomy.legal/"],"branch":{"iri":"http://lmss.sali.org/RCIwc6WJi6IT7xePURxsi4T","label":"Asset Type"},"parents":[{"iri":"http://lmss.sali.org/R8Ahr1iRMkczkHNvcrZ3KOG","id":"R8Ahr1iRMkczkHNvcrZ3KOG","label":"Cash and Cash Equivalents"}],"children":[],"relations":[],"url":"https://lmss.io/tag/RBuTEIGtnRtDRIUgtUfxTLS/","source":{"repo":"sali-legal/LMSS","ref":"3f9ac0c9357b2a971582ae79ede243511d47811d","channel":"pre-release"}}