Account Ownership Information


NOTICE:The type of account you select may determine how property passes on your death. Your will may not control the disposition of funds held in some of the following accounts.

  • SINGLE-PARTY ACCOUNT WITH P.O.D. (PAYABLE ON DEATH) DESIGNATION.
    The party to the account owns the account. On the death of the party, ownership of the account passes to the P.O.D. beneficiaries of the account. The account is not part of the party's estate.
  • SINGLE-PARTY ACCOUNT WITHOUT P.O.D. (PAYABLE ON DEATH) DESIGNATION.
    The party to the account owns the account. On the death of the party, ownership of the account passes as a part of the party's estate under the party's will or by intestacy.  
  • MULTIPLE-PARTY ACCOUNT WITH RIGHT OF SURVIVORSHIP.
    The parties to the account owns the account in proportion to the parties' net contributions to the account. The financial institution may pay any sum in the account to a party at any time. On the death of a party, the party's ownership of the account passes to the surviving parties.
  • MULTIPLE-PARTY ACCOUNT WITHOUT RIGHT OF SURVIVORSHIP.
    The parties to the account owns the account in proportion to the parties' net contributions to the account. The financial institution may pay any sum in the account to a party at any time. On the death of a party, the account party's ownership of the account passes as a part of the party's estate under the party's will or by intestacy.
  • MULTIPLE-PARTY ACCOUNT WITH RIGHT OF SURVIVORSHIP AND P.O.D. (PAYABLE ON DEATH) DESIGNATION.
    The parties to the account owns the account in proportion to the parties' net contributions to the account. The financial institution may pay any sum in the account to a party at any time. On the death of the last surviving party, the ownership of the account passes to the P.O.D. beneficiaries.