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A Safety Deposit that has been POD to an individual has Saving…

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A Safety Deposit that has...
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: 3 years ago.Category: Estate Law
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Answered in 5 minutes by:
5/19/2015
Estate Lawyer: P. Simmons, Attorney replied 3 years ago
P. Simmons
P. Simmons, Attorney
Category: Estate Law
Satisfied Customers: 36,971
Experience: 12+ yrs. of experience including estate law.
Verified
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?
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Customer reply replied 3 years 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.
Estate Lawyer: P. Simmons, Attorney replied 3 years 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.
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Customer reply replied 3 years ago
Thank you
Estate Lawyer: P. Simmons, Attorney replied 3 years 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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P. Simmons
P. Simmons
P. Simmons, Attorney
Category: Estate Law
Satisfied Customers: 36,971
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Experience: 12+ yrs. of experience including estate law.

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