What is another word for Totten Trust?
Pronunciation: [tˈɒtən tɹˈʌst] (IPA) 
A Totten Trust, also known as a pay-on-death account, is a type of revocable trust that allows an individual to name a beneficiary who will receive the funds in the account upon the account holder's death. Synonyms for Totten Trust include POD account, payable-on-death account, beneficiary account, and deathbed trust. While Totten Trusts are typically used for bank accounts, they can also be set up for other assets such as real estate or stocks. It is essential to understand the limitations and benefits of Totten Trusts and seek legal advice before creating one to ensure that the intended benefactor receives the assets as desired.
