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P. Simmons
P. Simmons, Attorney
Category: Estate Law
Satisfied Customers: 33095
Experience:  12+ yrs. of experience including estate law.
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A Safety Deposit that has been POD to an individual has Saving

Customer Question

A Safety Deposit that has been POD to an individual has Saving Bonds in it. Do this Bonds go to the estate of to the person the Box has been POD to?
Submitted: 1 year ago.
Category: Estate Law
Expert:  P. Simmons replied 1 year ago.
Hi, My name is Philip. I am an attorney with over 16 years experience. Hopefully I can help you with your legal question.
This depends on the state...which state is this happening in?
Customer: replied 1 year ago.
Thank you. This is in the State of Oklahoma I do mean the do the bonds go to the person the Safety Deposit is POD, or do they go into the estate.
Expert:  P. Simmons replied 1 year ago.
Thank you
In the state of OK, POD" stands for "Payable on Death" and it has no relevance at all to safe deposit box rentals or leases. The POD and contingent beneficiary rules apply only to "deposit accounts" (e.g., transaction accounts, savings accounts, certificates of deposits, negotiable order of withdrawal (N.O.W.) accounts, and M.M.D.A. accounts). See Section 901 of Title 6, Oklahoma Statutes.
So the contents of the box go to the estate.
Please let me know if you have more questions. I am happy to help if I can. Otherwise, please rate the answer so I may get credit for my work.
Customer: replied 1 year ago.
Thank you
Expert:  P. Simmons replied 1 year ago.
Certainly
Happy to help.
A gentle reminder to please rate the answer, as that is the only way I receive credit.

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