Do payable-on-death bank accounts avoid probate? | NC

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Q: Do payable-on-death bank accounts have to go through probate, or do they pass directly to the named beneficiary? A: Generally, a properly created payable-on-death bank account passes directly to the named beneficiary when the last account owner dies—so it usually does not become a probate asset controlled by the will. The beneficiary typically claims the money directly from the bank by…