Legal Question in Wills and Trusts in Florida
Cash assets of an estate
A decedent gives the executor of his/her will funds prior to their passing.
Instructions are given that they are to be divided equally amongst the beneficiaries.
The executor opens a bank account under the *The Estate of* and places the funds in the account to keep it separate from personal accounts.
My question is: Is this account subject to probate?
3 Answers from Attorneys
Re: Cash assets of an estate
Not in Florida. But it is very odd that a bank allowed such an account to be opened without an estate existing. Didn't he have to provide an EIN, court orders, etc.?? Seek a local attorney's assistance.
Re: Cash assets of an estate
Yes. First, until you die there is no :estate of". Therefore the account was hers. As an asset upon her death it is subject to probate. "Instructions" given to an executor (we call them personal representatives" are only effective if they are in a will and a will only affects the assets of an estate.
Re: Cash assets of an estate
Is there an Estate now? In what state? Is there a Will to probate?
Michael A. Berman, Esq.
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