Payable-on-death (POD) accounts transfer bank funds directly to a named beneficiary and bypass probate under Florida law. At the Law Offices of Jeffrey A. Herzog, P.A., we help clients in Palm Harbor set up, review, and coordinate POD designations so their accounts pass smoothly and accurately. People reach out to us when they want clear guidance and a legal team that understands how POD accounts support a broader estate plan. We will help you structure your accounts and beneficiary instructions in a way that reflects your goals and prevents problems later.

Why Choose the Law Offices of Jeffrey A. Herzog

Choosing the right attorney for your estate planning goals matters, especially when account titling determines how money passes after death. Our firm offers focused guidance backed by hands-on experience in Florida probate and estate planning.

What sets our firm apart:

  • Clear advice on how POD designations affect probate and other planning tools
  • Thorough review of beneficiary forms to reduce the risk of disputes
  • Guidance on coordinating POD accounts with wills and trusts
  • Practical solutions for blended families and complex financial arrangements
  • Responsive communication that helps you understand every step

How Do POD Accounts Work in Florida?

A POD account is a bank account that transfers funds directly to a named beneficiary after the account holder dies. You maintain full control during your lifetime. After death, the bank releases the funds to the beneficiary listed on the designation form.

Accuracy matters. An incomplete, outdated, or contradicting designation can cause delays or legal challenges. Many clients work with us because they want to avoid these issues and ensure funds transfer to the right person without court involvement.

How Do POD Accounts Help With Probate Avoidance?

POD accounts are often used by Florida residents who want to reduce probate-related delays and expenses. Because these accounts transfer by contract, they are not part of most probate estates. This can help beneficiaries access funds quickly for funeral arrangements or other immediate needs.

We also explain when a POD account may fall short. For example:

  • A beneficiary dies before the account holder, and no alternate is named
  • The estate plan uses a trust that should receive the funds instead
  • Family changes make old designations inappropriate

Evaluating these issues early helps keep your planning consistent and reduces the likelihood of conflict.

Should You Use a POD Account or a Trust?

POD accounts are useful for straightforward transfers but may not suit every goal. Trusts allow greater flexibility, especially when planning for minor children, dependents with long-term needs, or situations that require controlled distributions.

We help clients compare the two approaches so they understand:

  • How POD transfers differ from trust administration
  • When a trust offers better long-term control
  • How to align POD accounts with durable powers of attorney and other planning documents

By reviewing all parts of your plan, we help you select the most effective approach.

Common Issues We Help Clients Avoid

Estate planning often breaks down when beneficiary designations conflict with other documents. POD accounts are a common source of these problems. We help clients identify and correct issues such as:

  • Beneficiaries listed in an incorrect order
  • Missing contingent beneficiaries
  • Outdated designations after divorce, remarriage, or family changes
  • Accounts that should be titled in a trust but are not

Cleaning up these inconsistencies helps your estate plan function the way you intend.

When Should You Review or Update a POD Account?

We suggest reviewing POD designations whenever a significant life event occurs. These may include:

  • Marriage, divorce, or the death of a beneficiary
  • The birth or adoption of a child or grandchild
  • Major changes in finances or banking institutions
  • Updates to your will or trust

A brief review can prevent future complications. We will help you align POD accounts with the rest of your documents so your beneficiaries receive what you intend.

Contact Us for Guidance on POD Accounts in Palm Harbor

If you want to set up a new POD account or review your current designations, our team is ready to help. We will explain your options clearly, identify practical solutions, and ensure your accounts support your broader estate plan. Contact the Law Offices of Jeffrey A. Herzog, P.A., to schedule a consultation.

Frequently Asked Questions

Are POD accounts subject to creditors in Florida?

Yes. Creditors can sometimes reach funds before distribution, which is why reviewing debts and estate obligations is important.

Do POD accounts affect Medicaid planning?

They do not provide asset protection and can be counted as available resources. We help clients understand how POD accounts fit within Medicaid eligibility planning.

Can multiple beneficiaries be listed on one POD account?

Yes. Banks often allow more than one beneficiary. We help clients determine how percentages or equal shares should be assigned.

Does a POD designation override a will?

Yes. The bank will honor the designation form even if the will says something different, which makes accurate drafting essential.