Legal Question in Wills and Trusts in Florida

I am a non-us person, listed on a transfer on death brokerage account as beneficiary. The account holder, also non-us, has passed. Yet I have no access to the funds till an executor is assigned and/or till i file for a Transfer Certificate with the IRS , which supposedly can take up to 6 months. What then are TOD or JTWRS good for? The account is more then $60k so I am not exempt from the rule.


Asked on 10/06/14, 12:14 pm

1 Answer from Attorneys
Barry Stein De Cardenas, Freixas, Stein & Zachary

Eexecutors don't exist in Florida, only personal representatives. If the transfer on death was in place, the Estate should have nothing to do with the funds. You will need to follow whatever other rules exist, including IRS transfer rules, to get the funds despite the legal ownership transferring as of death. hire an attorney if they are blocking that from occurring.

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Answered on 10/06/14, 12:25 pm


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