What steps must a named beneficiary take to access a deceased person’s POD bank account in North Carolina? - Florida
The Short Answer
In Florida, a properly designated pay-on-death (POD) bank account generally passes directly to the surviving named beneficiary after the account owner (and any other account “parties”) dies—often without probate for that account. Practically, the beneficiary typically must make a request to the bank and present proof of death and identity that satisfies the account terms and the bank’s requirements.
What Florida Law Says
Florida recognizes POD designations for deposit accounts. The key concept is that the beneficiary has no enforceable right to the funds while the account owner is alive, but once the sole owner (or last surviving owner) dies, the “sums on deposit” belong to the surviving beneficiary(ies), subject to certain account-related obligations (like unpaid checks or other payment requests made before death).
The Statute
The primary law governing this issue is Fla. Stat. § 655.82.
This statute establishes that, after the death of the sole account party (or the last surviving party), the POD funds belong to the surviving beneficiary(ies), and a bank may pay the beneficiary(ies) upon request when proof of death is presented showing the beneficiary survived all parties.
If you want more background on why a bank may still delay or refuse payment in some situations, see: Can a bank refuse to release a deceased person’s account funds to a listed beneficiary in Florida?
Why You Should Speak with an Attorney
Even though POD accounts are designed to avoid probate, real-world payouts can get complicated fast. Legal outcomes often depend on:
- Strict Deadlines: If there is a broader estate administration or a dispute brewing, delays can affect creditor issues, competing claims, and how quickly funds can be safely distributed.
- Burden of Proof: The bank can require “proof of death” and confirmation that you are the correct beneficiary under the account terms; if the beneficiary name, identity documents, or survivorship facts are unclear, payment may be delayed.
- Exceptions: POD ownership can be challenged (for example, allegations of undue influence, fraud, or conflicting account paperwork). Also, the statute makes the transfer subject to certain pre-death payment requests tied to the account.
When significant money is involved—or when family members disagree—having an attorney involved can help you avoid missteps, reduce the risk of litigation, and coordinate the POD transfer with the rest of the estate plan and probate issues.
Get Connected with a Florida Attorney
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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.