Brother Sues Brother Over Joint Bank Accounts — September 10, 2014 pay on death probate case re: Florida Estate Property & Joint Bank Accounts

Florida estate lawyers know that a joint account with a right of survivor ship goes to the survivor automatically and by operation of law, upon the death of the owner….UNLESS the bank account is a convenience account, sometimes referred to as an estate account in Palm Beach probate.  Well, if you have an interest in a joint account, you may want to read this September 10, 2014 Florida probate appeals opinion from the 1st District Court of Appeal.

Does the Joint Account Go to the Survivor of the Estate?

• Are you telling me that if my name is on a bank account in Boca Raton, that I may not inherit it?  That’s right.
• A bank account with more than one name on it may be a survivor account, or it may go to the Palm Beach probate when the owner dies.
• Probate Litigators Palm Beach have argued over these joint accounts and the survivorship features for years.
• There are a number of probate appeals taken regarding joint bank accounts.
• They sometimes pit the named person on the bank account, or the survivor or surviving tenant, with the estate or the executor of the will.

Pay-on-Death Accounts

• This recent Florida bank account lawsuit involved not only joint accounts but Pay on Death Accounts
• A mother died in Florida survived by 5 adult children.
• Certain of mother’s Florida certificates of deposit were jointly held with one child
• Other Florida certificates of deposit named the one adult child as sole beneficiary: a pay on death account

Brother Sues Brother Over Florida Joint Bank Accounts

• After mother died, the kids fought over the bank accounts
• The estate, or rather the Curator of the estate, filed a probate lawsuit
• A curator is like a temporary executor or a temporary Personal Representative of a Florida probate
• The curator wanted a declaration from the probate court that the bank accounts would go to the Florida probate to be divided according to the will : to all the children
• The curator wanted the probate court to ignore the joint account with right of survivorship and the pay on death features of the Florida bank accounts (CD’s)

Probate Trial

• Probate litigation in Delray Beach, for example, is common over joint bank accounts
• You need specific evidence to demonstrate the person’s intent when they opened the joint account or pay on death account and when the administered it
• The family had a probate trial: an evidentiary hearing
• Did you know about the legal presumption which Florida bank account law has over joint accounts under Florida Bank Statute 655.79?
• This does not apply to pay on death accounts
• For pay on death accounts, look to 655. 82
• Did you know that you need clear and convincing evidence to over the presumption of the Florida certificates of deposit which were joint accounts?

Question:  Want to read more about this Probate Case or about joint accounts and Florida probate?

1. Here’s a link to the Florida appeals court opinions page from September 10, 2014: http://www.1dca.org/opinions/opinions_default.html
2. Here is a link to the appeals court opinion:  https://edca.1dca.org/DCADocs/2013/4452/134452_DC08_09102014_100515_i.pdf
3. Here is a link to a free Florida joint account video: http://www.youtube.com/watch?v=Q6Wzx3hvAho&feature=youtu.be