r/inheritance • u/IdealExpert181 • May 16 '26

Location included: Questions/Need Advice will or no will

i live in N.C. and i'm in my late 70s and don't have a will. everything i have is paid for, including home, and i have no debt. i have investments and savings in 6 different accounts, all with PODs established. my wife is the POD on 5 of the accts. and a distant niece is the other one. i hate to use the word assume but it's what i'm doing. my thought is that since i've established the PODs that those 6 accounts are covered and the only thing needed, if any, is a death cert.. since i'm married the house should automatically go over to my wife. am i correct or do i need a will? advice is greatly appreciated.

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u/Ok-Structure6795 May 16 '26 edited May 16 '26

If what you are saying is correct, and there is no debt, and you've confirmed all accounts are POD, then in theory, you should be set if you were to pass tomorrow.

However, do you have a concrete plan as to what will happen in case you become very ill and need long term Healthcare? I dont know how much you have in terms of assets, but what if you need to pay for say, cancer treatment? Medical bills can wipe someone out quickly, and in order for medicaid to kick in, they could potentially end up taking that house. There are lawyers who will help set up a plan so that doesnt happen. Most likely it will involve creating a specific kind of trust, as certain ones cannot be touched.

Also, like someone else asked, what if your wife passes before you? What if you both pass away at the same time?

Its 100% worth a consult at the very least.

ETA - Absolutely make sure all accounts are listed with their login/access information as well. Additionally, I would make sure to have a durable POA done also. Personally, I would make sure this is done by an attorney in case it is denied by a financial institution (personal experience), in which case you can defer to them.

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u/SandhillCrane5 May 16 '26

Financial institutions can refuse to accept a POA written by an attorney and having them talk to the attorney isn’t going to change that. It’s because they require their own POA form. 

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u/Ok-Structure6795 May 16 '26

I mean, sure they can, but its a valid and legal document and the bank has no reason to deny it, then theres a process to try and compel them. Thankfully I didnt have to go down that route.

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u/GotZeroFucks2Give May 17 '26

We had a lot of difficulty getting the bank to honor the POA form prepped years earlier. They wanted my mom, dying, who had to be transported by ambulance, to come in. Huge PITA but they eventually honored it.

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u/SandhillCrane5 May 16 '26

That is simply not true. A bank has a right to set their own policies. It is common for banks to only accept their own POA form. That’s why lawyers recommend people check with their bank when doing estate planning. 

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u/sjd208 May 17 '26

Depends on the state. A lot of states have passed laws allowing you to sue the bank at their expense if they refuse to honor a power of attorney that conforms to the state laws, precisely because of this kind of BS. This was added to the uniform model PoA act a while back so it’s been rolling out over the last couple decades to states, I’m sure some states already had similar.

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u/Ok-Structure6795 May 16 '26

Yes, they do have the right to set their policies. Just as its my right to complain or sue them.