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Tag: #payondeath

Florida TOD Accounts + Federal Court

Uncategorized Feb 15, 2021
post about Florida TOD Accounts + Federal Court

Were you supposed to inherit a Florida TOD account from a bank or financial company? Is the probate executor making a claim to your Florida TOD account? This recent federal case on Florida TOD accounts may prove helpful to understanding your rights. If you still have questions, be sure to find a litigation law firm that has experience trying TOD and pay on death cases, as well as handling TOD appeals. Federal Case Sheds Light on Florida TOD Accounts + Federal Court While most Florida probate lawyers only practice in state court, there are some expert probate litigators who also handle federal court cases in Florida. Just ask John Pankauski, Managing Member of the boutique firm Pankauski Hauser Lazarus PLLC. “We have a federal court trial in March of 2021 in the Middle District of Florida . 2020 was very busy for us in Federal Court in Florida. We had a few matters in the USDC Southern District of Florida.” Pankauski should know. After all, TOD accounts and pay on death bank accounts are a unique area of the law. “Look out for so called ‘probate’ lawyers who say they go to court, but who actually never try a case” warns Pankauski. “Don’t get me wrong. Mediation and settlement may make a lot of sense, but they are not for everyone.” he continues. “There are a lot of Florida probate lawyers who just want you to settle everything.” Well, needless to say, that’s not him. Florida TOD Accounts + Federal […]

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How does a Florida TOD account work in Florida?

Uncategorized Feb 14, 2021
post about How does a Florida TOD account work in Florida?

A Florida TOD account is supposed to transfer the account, typically a bank or financial account, to the surviving owner. If transfer on death is so “easy”, why are so many family members and executors having a probate dispute over them? The owners are generally those whose names appear on the TOD account title. That’s why probate litigation law firms issue subpoenas under Florida Rule of Civil Procedure 1.350 to attempt to obtain complete bank records. But, it is possible that the named beneficiary of the Florida TOD account does NOT inherit. To learn how a transfer on death account for a Florida bank account can go to probate or the estate, read on. What is a Florida Convenience Account? A Florida Convenience account is one of those things that is not what it says it is, jokes John Pankauski, Managing Partner of Pankauski Hauser Lazarus PLLC, an expert probate litigation law firm. And Pankauski should know. After all, unlike most “probate” lawyers, he has actually won bank account trials and also handles TOD and pay on death appeals. You can read more about convenience accounts at Fla. Stat. 655.80, which can cause a probate court to ignore the survivorship feature of the Florida TOD account, and give it to the estate, where it can be subject to creditors and expenses of administration. (See Fla. Stat. 733.707 for the schedule of payment of expenses of administration and creditors claims, including attorneys fees). Florida TOD Bank Account Trials “Be cautious” warns […]

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What does TOD mean?

Uncategorized Feb 13, 2021
post about What does TOD mean?

What does TOD mean to heirs, family members and Florida probate beneficiaries? TOD, or transfer on death, is a way that Florida residents pass millions and millions of dollars, automatically, without probate. Sometimes ! We have previously written about this pay on death will substitute and posted a number of Free TOD and Pay on Death Videos to help you understand beneficiary rights and inheritance rights for Florida TOD accounts. In short, TOD means “transfer on death” and generally gives the other name on the bank account 100% ownership when the other (or first) owner dies. Something so easy has never created more TOD lawsuits about Florida bank accounts, both in federal and state court. If you think you are entitled to a TOD account, consider reading three things that will tell you (almost !) all you want to know about Florida TOD accounts. And, it will answer the question: What does TOD mean in Florida? Everything You Want to Know About TOD Bank Accounts in Florida To learn all about TOD accounts in Florida, consider reading three things. First read the Florida TOD Law which tells you about pay on death accounts and bank accounts when there are two or more names. You may also hear the term “totten trust” or “POD” or pay-on-death. That’s Florida Statutes 655.78- 655.825. Second, there are two good TOD opinions from Florida’s appeals courts which will tell you a lot. Consider reading Keul v. Hodges Blvd Presbyterian Church, a 2015 Florida appeals court […]

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What does “TOD” mean on this Bank Statement?

Uncategorized Feb 3, 2015
post about What does “TOD” mean on this Bank Statement?

Billion$ in “TOD” Florida Bank Accounts What does “TOD” mean on a bank account?  We have previously written about TOD accounts and Florida POD accounts. Now, let’s update this important Florida probate topic by giving you a link to two important Florida statutes + also a 2105 Florida probate opinion you can read for free. Here is the link to previous Florida TOD commentary: https://www.pankauskilawfirm.com/blog/avoid-probate-in-west-palm-beach-through-trusts-life-insurance-and-other-non-probate-assets-learn-how/ Transfer on death typically means that the named individual on the bank account inherits it automatically, by operation of law, when the other co owner dies.  Securities such as stocks and bonds and interests in Florida LLCs may be the subject of transfer on death ownership.  Florida Transfer on Death Security Registration Act TOD Law in Florida A 2015 Florida probate case about TOD accounts and pay on death accounts sheds like on these “will substitutes.”  2015 Florida TOD Probate Case  When someone dies all his or her assets don’t necessarily go to the same place!  And sometimes special bank accounts do not need to be probated. The good news is that Florida has TOD laws and Pay On Death Statutes which you can read for free.  Florida Statutes on TOD and Pay on Death Accounts Do not just assume the probate property is the extent of your relative’s estate. Now more than ever, people are setting up bank accounts and investment accounts with a “designation of beneficiary” to transfer on death (TOD). The beneficiary is the person to whom the asset will transfer after the […]

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