You can create a payable-on-death (POD) account by filling out your bank’s beneficiary forms. Payable-on-death registrations set aside money that goes straight to beneficiaries. While the funds won’t go through probate, they still face inheritance tax. After creating a registration, you can use your bank’s POD forms to:
Add beneficiaries
Remove beneficiaries
Adjust the amount in your account
Transfer funds out of the account