Using POD bank accounts to pay funeral expenses

Transcript: Caller: My husband and I are in our early 60s. Our children are in their early 20s. Should something happen to my husband and I, our children aren't financially stable enough to support our end-of-life burial, et cetera. If I use transfer upon death for our bank account, does it, one, avoid probate and, two, get the money faster into our children's hands that's in our current checking account? Attorney Tom Olsen: Making your bank account's POD, payable on death, TOD, transfer on death, same thing, if you do that, is a great tool to avoid probate on bank accounts. If you and your husband passed away, just as soon as they get death certificates for you and your husband, they can go down, show those to the bank and the bank will literally write them a check. It's a great tool to avoid probate. It might take maybe 10 business days to get a death certificate these days. I don't know whether you consider that to be quick or not, but they'll get access to your funds within a couple weeks at least.