Disclaimer: This article is for informational purposes only and does not constitute legal advice. Consult a qualified Florida attorney for guidance specific to your situation.
Detailed Answer
When someone dies, any bank accounts held solely in their name generally become part of their probate estate. In Florida, you must follow probate procedures before accessing or withdrawing these funds, unless the estate qualifies for summary administration.
1. Determine if Summary Administration Applies
If the total value of personal property subject to probate is below $75,000 or the decedent died more than two years ago, you may use Florida Statute 735.201 for summary administration. This streamlined process usually takes 3–6 months and lets a close family member or other qualified petitioner obtain an order to collect and distribute assets without formal probate.
2. File a Formal Probate Petition
If summary administration is unavailable, file a petition for administration with the circuit court in the county where the decedent resided. Required filings typically include:
- Original will (if one exists) and certified death certificate
- Petition for Administration form
- List of heirs and beneficiaries
- Schedule of assets and creditors
- Proof of mailing or publication of notice to creditors
After reviewing these documents, the court issues Letters of Administration (if there’s no will) or Letters Testamentary (if there’s a will). Both grant authority to act as the personal representative under Florida Statute 733.602.
3. Accessing the Bank Account
Once you have Letters of Administration or Letters Testamentary, visit the deceased’s bank with:
- Certified copy of the Letters
- Certified death certificate
- Your valid photo ID
The bank will typically allow you to open an estate or fiduciary account. You can then transfer or withdraw funds to pay debts, taxes, and distribute inheritances.
4. Duties and Powers of the Personal Representative
Under Florida Statute 733.608, a personal representative must:
- Collect and safeguard estate assets
- Provide an inventory to the court
- Pay valid debts and taxes
- Distribute remaining assets according to the will or Florida’s intestacy laws
5. Closing the Estate
After settling claims and distributing assets, file a final accounting and petition for discharge. The court reviews your actions and, if satisfied, discharges you, returning you to private life.
Helpful Hints
- Locate all account statements and safe-deposit boxes early.
- Check if any beneficiaries are joint account holders or payable-on-death (POD) designees.
- Maintain clear financial records of all transactions.
- Open a separate estate checking account to avoid commingling funds.
- Consider hiring a probate attorney for complex estates or disputes.