How do bank beneficiary designations and CDs get handled when there is a will? - Florida
The Short Answer
In Florida, a valid beneficiary (POD) designation on a bank account or certificate of deposit (CD) generally controls who receives that money at death, even if the will says something different. Assets that pass by POD designation or survivorship typically do not go through probate, while accounts without those features usually become part of the probate estate and are controlled by the will.
What Florida Law Says
Florida treats many bank accounts and CDs as contract-based assets: the “terms of the account” (signature card/deposit agreement) can name a pay-on-death (POD) beneficiary or create survivorship rights. When that is done correctly, the funds usually pass directly to the surviving beneficiary or surviving account owner, rather than being distributed under the will.
The Statute
The primary law governing this issue is Fla. Stat. § 655.82 (Pay-on-death accounts).
This statute establishes that, when an account (including a certificate of deposit) has a valid POD designation, the sums on deposit belong to the surviving beneficiary(ies) at the death of the last account party—meaning the funds generally pass outside the will and outside probate.
Separately, Florida law also creates a strong presumption that accounts (including CDs) titled in two or more names pass to the survivor, unless that presumption is overcome by proof such as fraud/undue influence or clear and convincing evidence of contrary intent. See Fla. Stat. § 655.79.
If the will has not been filed, Florida also imposes a deadline on the custodian of the will to deposit it with the clerk. See Fla. Stat. § 732.901.
Related reading: Do I need POD/TOD beneficiary designations in Florida if my will leaves everything to my daughter? and How does a named beneficiary access a POD bank account after death in Florida?.
Why You Should Speak with an Attorney
Even though the “POD beats the will” concept is common, real cases get complicated fast—especially where there are multiple accounts/CDs, a spouse acting as executor, and concerns about capacity or undue influence.
- Strict Deadlines: Florida requires the custodian of a will to deposit it with the clerk within 10 days after learning of the death. See Fla. Stat. § 732.901. Delay can create avoidable litigation and fee exposure.
- Burden of Proof: If an account was retitled or a joint owner/beneficiary was added and you suspect fraud or undue influence, Florida law may allow challenges—but the evidence standard can be demanding. For joint accounts/CDs, the survivorship presumption is difficult to overcome without strong proof. See Fla. Stat. § 655.79.
- Exceptions and Overlapping Rights: A surviving spouse may seek statutory benefits during administration (often called a “family allowance”), which is handled through the estate and court process and can affect cash flow and disputes. See Fla. Stat. § 732.403.
When there are allegations that someone changed titles after death, questions about capacity/undue influence, and competing claims (beneficiaries vs. estate vs. spouse), it is easy to make a move that unintentionally waives rights or triggers expensive litigation. A Florida probate attorney can evaluate the account paperwork, the timeline of changes, and what claims are realistically available.
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Disclaimer: This article provides general information under Florida law and does not create an attorney-client relationship. Laws change frequently. For legal advice specific to your situation, please consult with a licensed attorney.