Why have a beneficiary on a bank account?

I would say yes.

Taxation should be stepped up basis, no?

Yes I do know if the United States.

That's outside my experience. A significant point is that my estate will be well below any federal estate tax, so a will should be less expensive, or the same for whoever. By stepped up basis, you mean taxed as ordinary income? If so, that sounds very bad.

Glad to see you up this late.

Yes, it's the United States. How does it work?

Each state has an estate tax which doesn't always keep up with the IRS estate tax. Geez there is a good reason why I quit taxes.

The only stepped up basis that I know of has to do with property and death.

Okay, I think I understand your question. The act of acquiring the account by virtue of the death of the testator, is not a taxable event. In other words, if you acquire the POD bank account of a decedent, you will not owe taxes on the amount of the account you receive.

I am only awake by a supreme act of God. Unknown why ...

no disrespect intended, I laughed when you wrote "I am only awake by a supreme act of God. Unknown why ... "

That's what I really needed to know.