Distributing money through Payable-on-Death account
LIST Code: ES-01-03-00-00
LIST Code
ES-01-03-00-00
Title
Distributing money through Payable-on-Death account
Definition
This category covers how a person might have other people directly receive money after they die, through a bank account called a Payable-on-Death (PDA) Account. It covers how to set such an account up, how long it will take people to receive money after you die, if and how the fund will be frozen, and how this account works with a probate court process.
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