Frequently Asked Questions About
Arizona Pay on Death Forms
By Richard Keyt and Richard C. Keyt, Arizona Estate Planning Attorneys
The Keyts have 294 5-star Google reviews and 407 5-star Google, Facebook & Birdeye reviews. They want to prepare a custom estate plan for Arizona residents that protects their most valuable assets – their loved ones. Call, email, or book a free office, phone or Zoom video meeting.
About Arizona Pay on Death (POD) Accounts
Can I name my revocable living trust as a POD beneficiary?
Yes, and in many cases this is the right thing to do. Naming your trust as the beneficiary of an account you keep outside the trust ensures that the account pours into your trust at death rather than passing directly to an individual — which keeps everything under the control of your trust's instructions and out of probate
Can I change or revoke a POD designation?
Yes. You can change or cancel your POD designation at any time while you are alive simply by filing a new form with your bank. Your current designation is not permanent. You should review it any time your life circumstances change.
Does a POD designation override my will?
Yes. A beneficiary designation on a bank or investment account controls who receives that account regardless of what your will says. If your will says everything goes to your spouse, but your bank account has a POD designation naming your sibling, the money goes to your sibling. This is one of the most common estate planning disasters I see. Your beneficiary designations must be coordinated with the rest of your estate plan.
What happens if I have no POD designation on my account?
If you die with no POD beneficiary named, the account becomes part of your estate. If you have no valid trust or will directing where it goes, it may have to go through Arizona probate — which is a court process that takes time and money and becomes a public record.
Does Arizona law protect my POD beneficiary designation?
Arizona follows the Uniform TOD Security Registration Act and has statutes recognizing POD and TOD designations on financial accounts. Your properly completed and recorded designation is legally binding in Arizona.
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My son Ricky and I have helped more than 1,000 Arizona families create complete estate plans. We use flat-fee pricing so you know exactly what everything will cost before we start. We serve clients throughout the Phoenix metro area — Scottsdale, Paradise Valley, Phoenix, Mesa, Tempe, Chandler, Queen Creek, and beyond.
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DISCLAIMER: This article is provided for general informational purposes only and does not constitute legal advice for any individual case or situation. Reading this article does not create an attorney-client relationship. Estate planning laws change. Please consult a qualified Arizona attorney for advice specific to your circumstances.
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Call or email Richard Keyt, the father
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Call or email Richard C. Keyt, the son
Direct phone: 480-664-7472
Email: [email protected]