Totten trust is another name for a payable on demand bank account or POD. It has often been called a poor man's will because it takes no attorney or financial planning. All that is required is a simple trip to the bank to fill out a form making the account automatically payable to a named person immediately upon the donors death. Totten trusts can be used for other transfers such as car titles. The owner of the car has the car re-titled to say their name and the beneficiary's name POP. This makes the car automatically belong to that person without having to go through probate. This type of trust is not recommended for real estate or complicated business dealings.