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I’m on bank account with Mom. Do I still need to add Payable On Death beneficiary? Can it be me?

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Are you listed as a joint account holder or authorized signer? If you are a joint the beneficiary isn't needed but recommended as someone other than you or mom. If you are only authorized you should be listed as the beneficiary or as a co beneficiary if sharing moms assets with other siblings. Below is the difference of joint account holder vs. authorized signer.

"An authorized signer's privileges are only legitimate while the account owner is alive. A joint owner, with the right of survivorship, allows the new joint owner complete access and rights to the funds in the account. They can also remove funds and close the account."
Helpful Answer (2)
Reply to AMZebbC
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No. If this account is titled in both your names then it is an account that belongs to you both. Upon the death of the primary name (the one that has SS and taxpayer info) the account would automatically move to being yours alone; you would arrange the paperwork and tax information by presenting a death certificate to the bank officer by appointment.

Do understand also that this account, if the SS of your relatives goes into it automatically, may end up frozen for a while dependent on whether or not SS tries to receive a months SS funds, or a pension made a payment into it after the death of the senior so report the death for sure to both SS and to any pensions that automatically put money it. If they freeze it it will all come right, but it's just one more thing to have to deal with.
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Reply to AlvaDeer
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I would ask this question of the bank. Years ago I heard it all had to do with the words "and" or "or". To add you as POD, Mom would need to do that.
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Reply to JoAnn29
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