The Short Answer

In Florida, if the brokerage account was set up with a valid “transfer on death” (TOD) or “pay on death” (POD) beneficiary designation, the account typically transfers directly to the surviving beneficiary and does not have to go through probate for that asset. If there is no surviving beneficiary (or the designation is disputed/invalid), the account usually becomes part of the estate and may require a probate court process to transfer.

What Florida Law Says

Florida recognizes beneficiary-form registrations for securities accounts (commonly called TOD/POD). When the owner dies, ownership generally passes to the beneficiary who survives the owner, as long as the financial institution’s requirements are satisfied (for example, proof of death and the institution’s claim paperwork). If no beneficiary survives, the account generally belongs to the decedent’s estate.

The Statute

The primary law governing this issue is Fla. Stat. § 711.507.

This statute establishes that, upon the death of a sole owner (or the last surviving owner), securities registered in beneficiary form pass to the surviving beneficiary(ies), and the registering entity may reregister the account upon proof of death and compliance with its requirements.

Why You Should Speak with an Attorney

Even when a beneficiary designation exists, brokerage transfers after death can get complicated fast—especially when a beneficiary services department is asking questions or delaying the transfer. Legal outcomes often depend on:

• Strict “registering entity” requirements: Florida law allows reregistration only after proof of death and compliance with the institution’s rules, and those rules can be demanding and vary by firm. See Fla. Stat. § 711.507.
• Burden of proof and documentation issues: Problems often arise when the beneficiary designation is missing, outdated, inconsistent with account records, or multiple people claim rights (for example, competing family members or multiple beneficiaries).
• Exceptions that can force probate anyway: If no beneficiary survives, the account generally becomes an estate asset (meaning probate may be required). See Fla. Stat. § 711.507. And if probate is needed, the type of probate (formal vs. summary administration) can depend on estate value and timing. For example, Florida’s summary administration threshold is addressed in Fla. Stat. § 735.201.

When a financial institution’s beneficiary services team is involved, it can be a sign that something needs to be clarified (TOD/POD language, beneficiary identity, competing claims, or whether probate authority is required). An attorney can review the account title/beneficiary designation, coordinate with the institution, and—if necessary—move the matter into the correct probate process without avoidable delays.

If you want more background on how beneficiary designations interact with probate, you may also find these helpful: Can I Access My Deceased Parent’s Fidelity Stock Account in Florida Without Probate? and How Does a Named Beneficiary Access a POD Bank Account After Death in Florida?.

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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.