A Payable on Death (POD) account is easy to set up at your bank. This guide can give you a place to start your research when you have a case for probate regarding a deceased person's estate.A payble on death (POD) account allows you to designate a beneficiary (or multiple) to receive the money in your account when you pass. A. Petition for Approval of Accounting: Prior to closing the case, you may file a Petition to ask the court to approve how the estate was managed. The process of setting up a transfer on death account is straightforward. If required, the Form 1041 will be filed using the estate's EIN, which you obtained to open up the estate's bank account. The account should be set up for easy access once you supply the necessary documentation. A probate attorney in Phoenix explains these below. Payable-on-Death (POD) Designations for Bank Accounts. While alive, the account owner has complete control over the funds.

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