What happens to a bank account when someone dies? The money is not part of your probate estate (assets that can't be transferred without the probate court's approval), so it can be quickly and easily transferred to POD beneficiary. After your death (and not before), the beneficiary can claim the money by going to the bank with a death certificate and identification.
How does paying off your mortgage affect your taxes? Mortgage Guide The IRS allows you to deduct all the interest you pay on up to $1 million of home mortgage d... more