FAQs: My Child Is A POD Beneficiary of My Acconts and is In Financial Trouble. Are My Accounts At Risk?
If I named my child as a POD (pay on death) or FBO (for benefit of) beneficiary of a bank or stock account and that child is now in financial trouble, can I lose the accounts? The short answer is “No.” POD designations on an account do not make that account the property of …