How should I go about writing a PODbeneficiary for benefit of a minor beneficiary of the account?
The laws of your state may permit a minor to hold a deposit account. If that is so, you may decide to simply name the minor.
On the other hand, you may decide that the minor isn't mature enough to handle an account, or the laws of your state may not provide for minors' deposit accounts. In such cases, you could name a custodian for the minor under the Uniform Transfers to Minor Act of your state. You can change that designation later as circumstances change. In the event of your death, the account would become the property of the minor, but the named custodian would control the account for the minor's benefit.
BankingQuestions.com is a free service made possible by the generous support of our advertisers. Advertisers are not responsible for site content. Please help us keep BankingQuestions.com FREE by supporting our advertisers. When you see an ad for a product or service you may have an interest in, click through to learn more.
Accounts
Article
Q&A
Podcast
Video
Blog
Discussions
PDF
Powerpoint
The laws of your state may permit a minor to hold a 