Do Payable On Death Accounts Go Through Probate?

A POD account is a type of bank account or certificate of deposit (CD) that allows the account holder to designate a beneficiary who will inherit the funds upon their death. This designation is made through a simple form provided by the bank, and it is free of charge. The key feature of a POD account is that it allows the funds to pass directly to the beneficiary without going through probate, which is the legal process of administering a deceased person's estate.