What Happens to Bank Accounts When Someone Dies in Florida?
When a loved one passes away, families often discover that bank accounts do not automatically follow the instructions in a will. In Florida, the fate of a bank account at death is determined almost entirely by how the account was titled and whether a beneficiary was designated — not by any estate planning document. Understanding these distinctions before a death occurs can prevent account freezes, family disputes, and costly probate proceedings.
Overview
Florida law recognizes several ways a bank account can be owned, and each has a different outcome at death. A solo account with no co-owner and no beneficiary designation becomes a probate asset, subject to court-supervised administration. A joint account generally passes to the surviving owner by operation of law. A pay-on-death account transfers directly to the named beneficiary upon presentation of a death certificate. The governing statutes are Florida Statute Section 655.79, which addresses joint accounts and the right of survivorship, and Florida Statute Section 655.82, which governs pay-on-death designations. For investment and brokerage accounts, Florida Statutes Sections 711.50 through 711.512 — the Florida Uniform Transfer-on-Death Security Registration Act — provide the equivalent framework.
Solo Accounts: When Probate Applies
A bank account held solely in one person's name, with no co-owner and no designated beneficiary, is a probate asset under Florida law. When the account holder dies, the bank will typically freeze the account. No one — not a spouse, not an adult child, not the executor named in a will — can access the funds until the Florida probate court appoints a personal representative to administer the estate. That process can take months and involves court filings, creditor notice periods, and legal fees. The account balance ultimately passes according to the will, or if there is no will, according to Florida's intestate succession laws under Florida Statute Section 732.101. For families who need immediate access to funds for final expenses, a frozen solo account can create significant hardship.
Joint Accounts and the Survivorship Presumption
A joint bank account — one held in the names of two or more people — is treated very differently under Florida law. Florida Statute Section 655.79 establishes a legal presumption that when a joint account holder dies, the surviving owner or owners take the full account balance automatically, without probate. This is known as the right of survivorship. The surviving owner presents the bank with a certified death certificate, and the account belongs entirely to them. No court order is required.
There is an additional layer for married couples. Under the same statute, a joint account held by spouses is presumed to be owned as tenants by the entirety — a form of joint ownership unique to married couples that provides creditor protection during both spouses' lifetimes. This presumption applies unless the account documents expressly state otherwise. The practical effect is that a judgment creditor of one spouse generally cannot garnish a tenants-by-the-entirety account while both spouses are alive.
It is worth noting that the survivorship presumption under Section 655.79 is rebuttable. If the account was opened with documentation expressly providing that survivorship rights do not apply, the account may pass differently at death. The account opening card or signature card controls.
Pay-on-Death and Transfer-on-Death Accounts
A pay-on-death account — commonly called a POD account — allows an account holder to name one or more beneficiaries who will receive the account balance at death. The mechanics are governed by Florida Statute Section 655.82. During the account holder's lifetime, the named beneficiary has no access to the funds and no legal interest in the account. The account holder retains full control, including the right to change or remove the beneficiary at any time without the beneficiary's knowledge or consent. At death, the funds transfer directly to the surviving beneficiary upon presentation of a death certificate and valid identification. No probate is required.
For brokerage accounts, mutual funds, and other investment accounts, the equivalent designation is called a transfer-on-death, or TOD, designation. This is governed by Florida Statutes Sections 711.50 through 711.512. The legal mechanics mirror those of a POD account: the named beneficiary has no present rights to the account during the owner's lifetime, and ownership transfers automatically at death outside of probate.
Why Outdated Designations Are Dangerous
One of the most common and costly estate planning mistakes in Florida involves outdated beneficiary designations on bank accounts. A POD or TOD designation overrides a will. It overrides a trust. It overrides any other estate planning document. If an account lists a former spouse as beneficiary and the account holder later remarries and executes a new will leaving everything to the current spouse, the former spouse will still receive the account funds at death. The will has no power to redirect that transfer.
The same problem arises when a named beneficiary predeceases the account holder. Depending on the terms of the account agreement, the funds may pass to the named beneficiary's estate, to other surviving beneficiaries in equal shares, or in some cases back into the probate estate of the account holder — the exact outcome the POD designation was meant to avoid.
Florida residents should review beneficiary designations on all financial accounts after every major life event: marriage, divorce, the birth of a child, the death of a named beneficiary, or the execution of a new estate plan.
Ready to Get Started?
Understanding how bank accounts are titled is one of the most consequential and most overlooked components of a Florida estate plan. A solo account without a beneficiary designation can freeze a family's access to funds at the worst possible moment, while an outdated designation can send assets to the wrong person regardless of what any will or trust says. For related reading, see the Estate Planning page at karialaw.com.
Frequently Asked Questions
Yes. A will does not prevent a solo bank account from going through probate. In Florida, a will only controls the distribution of probate assets — it does not transfer ownership of an account that has no co-owner and no beneficiary designation. The account must go through the Florida probate process before any funds can be distributed, even if the will clearly states who should receive them.
No. Under Florida Statute Section 655.82, a pay-on-death designation controls the transfer of account funds at death regardless of what a will says. The beneficiary named on the account receives the funds directly. The will has no authority over that transfer. This is why it is critical to review and update beneficiary designations on all accounts whenever a will or trust is updated.
In most cases, the surviving spouse simply needs to present a certified copy of the death certificate to the bank. Under Florida Statute Section 655.79, the joint account is presumed to pass automatically to the surviving account holder without any court involvement. The bank will update the account to reflect sole ownership in the survivor's name. Some institutions may also request a valid government-issued ID and may have internal procedures for processing the change.
Disclaimer: This article is for general informational purposes only and does not constitute legal advice. It does not create an attorney-client relationship. Laws vary and individual circumstances differ. Consult a licensed Florida estate planning attorney for advice specific to your situation. Tejus Karia, Esq. is a member of The Florida Bar.
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