If someone dies who was the POD on a CD and then the owner of the CD dies, who gets the funds?
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If someone dies who was the POD on a CD and then the owner of the CD dies, who gets the funds?
The Will states that the assets to be sold are to be split between the son and
daughter. Basically there are no assets.
Asked on September 27, 2018 under Estate Planning, Georgia
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 6 years ago | Contributor
I am so sorry for your loss. If the owner of the CD died and the POD beneficiary was still living at the time, it passed to the POD owner automatically at the time of the owner's death. I am assuming the owner was your Mother and the POD was your brother. IF, then, your brother passed away after, the CD would be a part of his estate, and the funds would pass through his Will or the intestacy statute if he hd none. So I think that the attorney mis-spoke the first time and corrected himself or herself after. I think that the Brother's children get it all. Good luck.
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