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Designate and Donate - Bank Accounts

Ask the bank for a POD form (Pay on Death). After your passing, what remains in the checking or savings account will be transferred to LLBN.

Designate and Donate - Jointly Held Accounts

You may have a loved one as the joint owner of an account. You can still designate and donate.


How It Works

  • Contact your bank to complete or update your POD (Pay on Death) form for your checking and savings accounts.

  • Designate LLBN to receive the remaining account balance after the joint account owners have passed away.


  • Receive a charitable deduction that will reduce any estate or inheritance taxes.

  • LLBN receives the balance of the accounts after the joint account owners have passed away.

You may have made a loved one a joint-owner of the account. The joint-owner may make deposits and withdrawals during your lifetime. The joint owner may also have "rights of survivorship," meaning that he/she will automatically inherit the account when you pass away. Even if you have a joint account, you should complete the POD form to assure that the bank knows what to do with the remaining assets when both account holders have passed away. This step will also assure that the account may not become part of a time-consuming and costly probate process.


Notice: The information in this publication is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor.


The information contained in this website is not intended as a substitute for tax or legal advise. LLBN encourages you to consult with your financial advisor, tax accountant, and attorney for legal advise specific to your situation.


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