I opened an account with BOFA online, and now they sent me a signature form to fill out and send back. I have to choose from the following classifications: Individual, Joint with Right of Survivorship, POD, and Joint Without Right of Survivorship. This account would be a joint account with my husband, where we both would have access to the funds. We want to have out daughter as beneficiary. Which classification do I pick?
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Contact the bank to verify that you should check both joint account with right of survivorship and POD. That should be interpreted to say that your daughter, named as beneficiary, would get the account after both you and your husband have died.
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Contact the bank to verify that you should check both joint account with right of survivorship and POD. That should be interpreted to say that your daughter, named as beneficiary, would get the account after both you and your husband have died.
