ResourcesPOD / TOD accounts
Payable-on-death (POD) and transfer-on-death (TOD) designations are usually set with your bank or broker. This page explains what they are, points to South Carolina鈥檚 Probate Code Article 6, and offers questions to ask your institution鈥攚ithout replacing account agreements or attorney advice.
Sources checked: August 3, 2026 路 South Carolina only 路 Informational
A payable-on-death designation is commonly used on bank deposit accounts. A transfer-on-death designation is commonly used on brokerage accounts. Both are usually completed on the financial institution鈥檚 own forms鈥攏ot on a South Carolina court form.
While you are alive, you generally keep control of the account under the institution鈥檚 rules. After death, the institution follows the account agreement and its claim procedures for named beneficiaries. Exact labels and paperwork vary by bank or broker鈥攁sk yours.
South Carolina Probate Code S.C. Code Title 62, Article 6 (Nonprobate Transfers) addresses nonprobate transfers for certain accounts. Among other provisions, S.C. Code 搂 62-6-303 (Payment of POD account) describes when a financial institution may pay sums on deposit in an account with a POD designation鈥攊ncluding payment to beneficiaries if proof of death shows they survived all persons named as parties, and other payment paths involving a personal representative or court order.
This page cites the Code as a pointer only. It does not interpret your account agreement or predict how any particular institution will handle a claim.
Use this checklist when you review beneficiary designations:
A POD or TOD designation can move that account under the institution鈥檚 account terms. It does not replace a will for assets without designations, residual estate planning, nominations of a personal representative or guardians for minor children, or other goals a will can address.
Many households use both beneficiary designations and a will. Whether that combination fits your situation depends on your assets and goals鈥攖opics for attorney review, not a conclusion from this page.
SCDMV Transfer on Death designations apply to certain titles issued by SCDMV and use SCDMV forms such as TOD-1. That is separate from bank POD or brokerage TOD paperwork. See our SC vehicle Transfer on Death resource for title-based designations.
A POD designation (common on bank deposit accounts) and a TOD designation (common on brokerage accounts) are usually set through the financial institution鈥檚 own forms. They tell the institution who may receive the account under the account terms after the owner鈥檚 death. They are institution paperwork, not South Carolina court forms. Rules and required forms vary by bank or broker鈥攁sk your institution.
South Carolina Probate Code Article 6 addresses nonprobate transfers for certain accounts. S.C. Code 搂 62-6-303 describes when a financial institution may pay sums on deposit in an account with a POD designation鈥攊ncluding payment to beneficiaries if proof of death shows they survived all persons named as parties, and payment paths involving a personal representative or court order in other situations. This page points to the statute; it does not interpret your specific account.
No. A POD or TOD designation can move that account under the institution鈥檚 account terms. It does not replace a will for assets without designations, residual estate planning, guardianship nominations for minor children, or other goals a will can address. Whether designations plus a will fit your situation depends on your assets and goals鈥攖opics for attorney review, not a conclusion from this page.
No. SCDMV Transfer on Death applies to certain titles issued by SCDMV and uses SCDMV forms such as TOD-1. Bank POD and brokerage TOD designations use each institution鈥檚 forms. See our separate South Carolina vehicle Transfer on Death resource for title designations.
This page is informational only and does not create an attorney-client relationship. It does not give tax, creditor, or multi-state advice. Institutions set their own claim procedures. Account agreements and statutes can change鈥攙erify with your bank or broker and the South Carolina Code. Wills From Home documents are limited-scope attorney-reviewed products sold separately on the Documents Page.
Reviewing POD and TOD designations is often one piece of a broader plan. Wills From Home offers attorney-reviewed South Carolina documents under limited-scope representation, including a Simple Will and the Essential Estate Bundle.
Browse packages or book a video consultation from the Documents Page.
Wills From Home is a service of Lowcountry Legal Solutions, LLC. These public-document pages are informational only. They summarize publicly available South Carolina agency materials and are not a substitute for individualized legal, tax, or financial advice.
South Carolina only. Browsing this site or reading these resources does not create an attorney-client relationship. Limited-scope representation applies only if you order documents or book a consultation under our engagement terms.
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