What happens to your bank account when you die? #bankaccount #probate #inheritance #estateplanning | MP Estate Planning UK
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What happens to your bank account when you die? #bankaccount #pro…
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What happens to a parent’s bank account when they pass away? If that account has a POD beneficiary—that’s “Payable on Death”—listed, it avoids probate court. That means the money doesn’t get tied up in the long, expensive estate administration process. Instead, the named beneficiary (like an adult child) can take a death certificate to the bank, and the account transfers directly to them. No need for a will, trust, or a court order. This is one of the simplest ways to transfer bank accounts afte
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