Does anyone know of a state statute that prohibits an estate or Trust from being the direct beneficiary on a POD account?

Apparently our old forms dictated that the beneficiary had to be a natural person, but the new canned forms make no mention of this.

I see no issue with it, but I am always amazed at what is buried in the statutes.

Chapter 705 references POD requirements. It refers to a POD beneficiary as a "person" but I do not see that term defined as a natural person.

However, I would keep in mind the fact that FDIC insurance would not consider this to be a qualified beneficiary.

And and I see that Chapter 851 expands the definition of "person" to go beyond natural persons, but I do not know if it can flow back this way.

I guess my question would be: how is naming the estate or trust as a beneficiary any different than the PR closing the account out payable to the estate, or any different than if the named beneficiaries of said account have died, and thus the account can then be made payable to the estate?

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