That depends on how the bank account was titled. Assets must go through Florida probate only if they are owned solely in the decedent’s name at death. In other words, there were no co-owners on the asset nor were there beneficiary designations (such as with life insurance or retirement accounts). Examples of assets that must go through probate in Florida are bank or investment accounts owned solely in the name of the decedent (although these accounts can be made payable on death to avoid probate – but you have to specifically ask the bank to make the account “P.O.D.”); and, life insurance, annuity contracts or retirement accounts that are specifically made payable to “the estate of” the decedent (I don’t recommend this); real estate titled solely in the decedent’s name or as tenants in common with someone else (joint tenants with rights of survivorship is not a probate asset). This list is not exclusive and you should seek the counsel of a qualified Florida probate attorney to help you determine which assets must go through probate. To learn more about Florida Probate, please contact the Law Offices of Laurie Ohall.
I was on my parent’s bank account – does this have to go through probate?
by Laurie Ohall | Jan 21, 2011 | Power of Attorney for Estate Planning, Probate | 2 comments
I was paying into a bank account of someone I was purchasing property from. It was sort of like a land contract. We had formal real estate papers and I just made monthly payments directly to her by depositing a payment monthly into her bank account. She had no will as far as I understand from her Son. Her son was “power of attorney” on her bank account which ceased when she passed away in December of 2010. The bank froze her account which had no funds in it at that point. I opened an account under my name to continue making the remaining payments just to fulfill my legal obligation. Her son brought paperwork to my home trying to get me to make direct deposits from my bank account to HIS in order for him to get the remaining money. I have the paperwork but I was informed he could NOT do this. Then after I informed him that he could not do that, he wrote me a letter stating he lost “power of attorney” when she passed away. Covering his tracks, I guess. My final payment is coming up and I don’t know what to do in order to gain access to my Title to the house. Her son said he will NOT give it to me because I wouldn’t directly pay him the remaining money. He never filed her “death certificate” with probate from what they told me when I called. It’s now been almost a year and a half since she passed. What do I do to get my Title and what happens with the remaining money I have sitting in the bank account? From what I understand her son was not an appointed representative of her estate. She had nothing as far as debts owed or any assets from what she herself had told me. I tried speaking to the real estate lawyers but they were no help. Can you possibly give me some advice on what to do so I can get my Title? Thank you so much.
I would recommend that you speak to an attorney familiar with probate law. You were correct to keep making the payments and to hold them in a separate account because, the mortgage was part of the decedent’s estate, and as such, needs to go through the probate process. No one will have the ability to satisfy the mortgage and put the title in your name until the probate process is complete. Any interested party can petition for the administration of an estate, and this would be a situation where, if the son is unwilling to do so, you may have to open the estate in order to get title to the property.
Please feel free to contact my office if you are in need of assistance in the state of Florida or Ohio.