What Happens to Bank Accounts After Death in Florida?

Feb 15

When a loved one passes away, families often need to access their bank accounts to pay expenses and settle the estate. Whether probate is required depends on how the bank account was titled and whether a beneficiary was designated.

Understanding how bank accounts are handled after death can help families avoid delays and ensure funds are transferred properly.

Accounts With a Payable-on-Death (POD) Beneficiary

If the bank account has a payable-on-death (POD) beneficiary, the funds transfer directly to the named beneficiary without probate.

The beneficiary typically needs to provide:

• Death certificate

• Identification

• Completed bank forms

The bank will then release the funds directly to the beneficiary.

Joint Bank Accounts

If the account was jointly owned with rights of survivorship, the surviving account holder automatically becomes the owner of the account.

Probate is not required in this situation.

Accounts Without a Beneficiary

If the bank account was owned solely in the deceased person’s name and has no beneficiary, probate is required.

The probate court will issue an order allowing the funds to be transferred to the estate or beneficiaries.

Summary administration is often used when the estate qualifies, allowing funds to be accessed faster.

How Long It Takes to Access Bank Accounts

Typical timelines:

• POD or joint account: 1–3 weeks

• Summary administration: 2–8 weeks

• Formal probate: 6–12 months

How to Avoid Probate for Bank Accounts

Probate can often be avoided by:

• Adding payable-on-death beneficiaries

• Using joint accounts with survivorship rights

• Placing assets in a revocable living trust

Flat-Fee Probate Services Starting at $1,500 – Karten Legal

Karten Legal helps families throughout Broward County, Palm Beach County, Miami-Dade County, and all South Florida communities access bank accounts and complete probate efficiently.

We offer flat-fee probate services starting at $1,500 and guide clients through every step of the probate process.

Our services include:

• Preparing and filing probate petitions

• Assisting with accessing bank accounts

• Handling court filings

• Ensuring probate is completed properly

Schedule Your Free Consultation

If you need help accessing a bank account after a loved one’s death, Karten Legal can help you complete the process quickly and correctly.

Visit www.KartenLegal.com to schedule your free consultation.

Karten Legal

Estate Planning & Probate Attorney

Serving South Florida