POD – Pay on Death
Your bank accounts – At your bank, you can complete a Pay on Death (POD) form. (Each bank may have a different name for this.)
Once this form is completed, at your death the money in each of your accounts will be paid to the individual or organization named.
TOD – Transfer on Death
Your Automobile – You can complete a Transfer On Death (TOD) request with your local DMV. By doing so, at your death the ownership of your vehicle will be transferred to the individual or organization named without having to go through probate.
Contact the DMV in your state of residence for more complete information. Or read about the states that offer this option online.
Ananda Janaka Foundation Tax ID number: 94-3400189