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Today's Terms
Payable on death account (POD)
Definition:
An account, such as a bank account, that is handed over to a specified person upon another person's death.
Revocation
Definition:
In terms of wills, the process or act of canceling or destroying an existing will.
Assets
Definition:
All property owned by a person that can be used or made available to use in the payment of debts and heirs.
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