ING Direct and POD

Zillionaire

$ Saving Fourth Grader

Join Date: Oct 2008

Forum Posts: 25
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#1

ING Direct and POD

03-05-2009, 10:42 AM

I'd like to deposit more on my ing direct saving account but found out that they don't have beneficiary application. The only program that available is living trust. Is it the same as beneficiary?
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boosami

$ Saving College Freshman

Join Date: Jul 2008

Forum Posts: 743
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#2

03-05-2009, 11:39 AM

It's the same thing as POD. In a living trust, if you die your funds go to the beneficiary. The ING program is for a revocable living trust, which means you can change the beneficiaries or eliminate the program at any time while you are still alive. You as the grantor remain in full control of the funds until death.
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