What If the Bank Didn't Add Me as Payable-on-Death Beneficiary? | NC

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Q: What happens if a bank failed to add me as a payable-on-death beneficiary before my parent died? A: Usually, the key issue is whether your parent signed valid written bank paperwork before death. If the account records do not show a completed payable-on-death designation, the bank will usually treat the money as part of the estate, not as a direct transfer to you. A verbal instruction, or a…