Can the beneficiary of a payable on death (POD) account be a trust?

Yes, a trust can be the beneficiary of a payable on death account. The Illinois Trust and Payable on Death Accounts Act was amended in 2010 to define the term “beneficiary.” Public Act 96-1151. As defined in the act, the term “beneficiary” includes a trust, among other entities. 205 ILCS 625/2.