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p.o.d. account n
[Payable On Death]
: an account payable on request to an original party or upon the party's death to one or more designated beneficiaries NOTE: A P.O.D. account is one of the few vehicles for the transfer of a decedent's property outside of probate.
Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.