UNIFORM SINGLE- OR MULTIPLE-PARTY |
ACCOUNT FORM |
PARTIES [Name One Or More Parties]: | |
___________________ | _________________ |
OWNERSHIP | [Select One]: |
___________ | SINGLE-PARTY ACCOUNT |
___________ | MULTIPLE-PARTY ACCOUNT Parties own account during the lifetime of all parties in proportion to net contributions unless there is clear and convincing evidence of a different intent. |
RIGHTS AT DEATH | [Select One]: |
___________ | SINGLE-PARTY ACCOUNT |
At death of party, ownership passes as part of party's estate. | |
___________ | SINGLE-PARTY ACCOUNT WITH POD (PAY ON DEATH) DESIGNATION [Name One Or More Beneficiaries]: |
_____________________ | _____________________ |
At death of party, ownership passes to POD beneficiaries and is not part of party's estate. | |
___________ | MULTIPLE-PARTY ACCOUNT WITH RIGHT OF SURVIVORSHIP At death of party, ownership passes to surviving parties. |
___________ | MULTIPLE-PARTY ACCOUNT WITH RIGHT OF SURVIVORSHIP AND POD (PAY ON DEATH) DESGINATION [Name One Or More Beneficiaries]: |
______________________ | ______________________ |
At death of last surviving party, ownership passes to POD beneficiaries and is not part of last surviving party's estate. | |
___________ | MULTIPLE-PARTY ACCOUNT WITHOUT RIGHT OF SURVIVORSHIP |
At death of party, deceased party's ownership passes as part of deceased party's estate. | |
AGENCY DESIGNATION [Optional] | |
Agents may make account transactions for parties but have no ownership or rights at death unless named as POD beneficiaries. | |
[To Add Agency Designation To Account, Name One Or More Agents]: | |
______________ | ________________ |
[Select One]: | |
___________ | AGENCY DESIGNATION SURVIVES DISABILITY OR INCAPACITY OF PARTIES |
___________ | AGENCY DESIGNATION TERMINATES ON DISABILITY OR INCAPACITY OF PARTIES |
Ala. Code § 5-24-4 (1975)