Glossary of Funeral Terms
Funeral & Cremation Terms
There are 2 names in this directory beginning with the letter T.
Funds from a Totten trust or Payable On Death (POD) accounts are earmarked to cover anticipated funeral costs. When the covered person dies, the money passes automatically to a designated beneficiary without having to go through probate. The funds are intended to be used to cover funeral expenses, but the beneficiary has the freedom to use the funds however they wish.