POD/TOD (Pay on Death/Transfer on Death) Designation. 

  • POD Paid on Death beneficiaryBank accounts that are made POD (Payable On Death), pass to the designated person without going through probate. The designated beneficiary has no control of the asset during your life and the asset is not subject to any claims of the designated beneficiary's creditors.
  • Brokerage accounts, mutual funds and other investment accounts made TOD (Transfer On Death) pass to the designated person without going through probate. The designated beneficiary has no control of the asset during your life and the asset is not subject to any claims of the designated beneficiary's creditors. 
  • Ohio recently passed a law which permits you to name a beneficiary for real estate. Upon the death of the owner, the beneficiary simply files an affidavit and  death certificate with the county recorder to acquire title to the property. There is no need to go through probate. 
  • A property POD/TOD designation will supercede or trump the terms of a Will or a Trust.

Contact the Bruce Favret Law Office today (513) 871-8076 to schedule your consultation. We can answer your questions and explain the law as it relates to your unique situation.

cincinnati ohio lawyerBruce Favret, Probate & Estate Planning Attorney At Law - Cincinnati Ohio. 
Schedule Appointment: (513) 871-8076