John makes regular donations to Oakland Symphony. He expressed his interest in naming Oakland Symphony as a beneficiary of his estate, but he wanted to keep the process as simple and inexpensive as possible.
John: I wanted to leave a meaningful gift to Oakland Symphony in my estate plan. But I didn't want to go to the trouble and expense of seeing a lawyer. I decided to make a "payable on death" or POD gift. I contacted my bank and requested a POD beneficiary designation form.
I filled out the form and gave it back to my bank. This form directs my bank to pay the balance of the accounts I designated to Oakland Symphony when I pass away.
John: The process was simple and didnít cost me a thing. This POD gift gives me flexibility. I still own the accounts and can use the money in those accounts if my needs ever change.
Is a payable on death (POD) gift right for you?
Making a gift of a payable on death or POD beneficiary designation is easy and free. You always have access to your accounts and you can use the money in your accounts during your life.
To learn more about POD beneficiary gifts, please contact us