pay-on-death account
A bank account whose owner instructs the bank to distribute the account’s balance to a beneficiary upon the owner’s death.
? Unlike a joint-and-survivorship account, a pay-on-death account does not give the beneficiary access to the funds while the owner is alive. ¡ª Abbr. POD account.
¡ª Also termed pay-on-death bank account.
How do bilingual lawyers in China usually translate the term pay-on-death account?
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