Rights at Death. Individual Account Without Payable-on-
Rights at Death. Individual Account Without Payable-on-Death Designation. Upon your death, the funds in the account will go to your estate and can be claimed by your legal representative or claimant subject to the terms of this Agreement. You understand that it is your responsibility (and not ours) to inform your legal representative(s) about your account(s) with us. • Individual Account With Payable-on-Death Designation. Upon your death, the POD beneficiary will be entitled to the funds in the account (subject to the terms of this Agreement) upon proof of your death and the POD beneficiary’s identification. If you designate more than one POD beneficiary on the account, each will be entitled to his or her (or its) equal share of the funds in the ac- count, which will be determined by dividing the amount of the funds in the account by the number of POD beneficiaries designated on the account, and will own those funds without right of survivorship. • Joint Account Without Payable-on-Death Designation. When one owner dies, his or her interest in the account and the funds in the account are owned by the surviving owner or owners of the account, subject to the terms of this Agreement. Upon the death of the final owner the funds in the account belong to that owner’s estate and can be claimed by that owner’s legal representative or claimant subject to the terms of this Agreement. You understand that it is your responsibility (and not ours) to inform your legal representative(s) about your account(s) with us. • Joint Account With Payable-on-Death Designation. Upon the final owner’s death, the POD beneficiary will be entitled to the funds in the account (subject to the terms of this Agreement) upon proof of death and the POD beneficiary’s identification. If you designate more than one POD beneficiary on the account, each will be entitled to his or her (or its) equal share of the funds in the account, which will be determined by dividing the amount of the funds in the account by the number of POD beneficiaries designated on the account, and will own those funds without right of survivorship. For joint accounts, a surviving owner’s ownership interest is subject to the Credit Union’s right of setoff for the deceased owner’s obligations, and to any security interest or pledge granted by a deceased owner, even if a surviving owner did not consent to it.
Rights at Death. Single-Party Account
Rights at Death. Single-Party Account - At death of party, ownership passes as part of party's estate. Multiple-Party Account With Rightof Survivorship - At death of party, ownership passes to surviving parties. If two or more parties survive and one is the spouse of thedeceased party, the amount to which the deceased party, immediately before death, was beneficially entitled by law belongs to thesurviving spouse. If two or more parties survive and none is the spouse of the decedent, the amount to which the deceased party, immediately before death, was beneficially entitled by law belongs to the surviving parties in equal shares. Multiple-Party AccountWithout Right of Survivorship - At death of party, deceased party's ownership passes as part of deceased party's estate. Single- PartyAccount With POD (Pay-on-Death) Designation - At death of party, ownership passes to POD beneficiaries and is not part of party's estate.Multiple-Party Account With Right of Survivorship and POD (Pay-on-Death) Designation - PLEDGES - Unless you tell us differently inwriting, each owner of this account may pledge all or any part of the funds in it for any purpose to which we agree. Any pledge of thisaccount must first be satisfied before the rights of any multiple party account survivor, pay-on-death beneficiary, or trust accountbeneficiary become effective.
Rights at Death. Single-Party Account - At the death of a party, ownership passes as part of the party's estate. Multiple-Party Account With Right of Survivorship (Alabama and South Carolina only) - At death of party, ownership passes to surviving parties. If two or more parties survive and one is the surviving spouse of the deceased party, the amount to which the deceased party, immediately before death, was beneficially entitled by law belongs to the surviving spouse. If two or more parties survive and none is the spouse of the decedent, the amount to which the deceased party, immediately before death, was beneficially entitled by law belongs to the surviving parties in equal shares, and augments the proportion to which each surviving party, immediately before the deceased party's death, was beneficially entitled under law, and the right of survivorship continues between the surviving parties. Multiple-Party Account With Right of Survivorship (Florida only) - At death of party, ownership passes to the surviving party or parties.
Rights at Death. Single-Party Account- At death of party, ownership passes as part of party’s estate.
Rights at Death
