Legal Question in Family Law in Florida
Estate in Escrow Accounts
My father recently passed away and the attorney has the monies in his escrow account. It is taking this attorney a very long time to distribute funds to family members. Who is collecting interest on these monies? Does the attorney get the interest or does the family members receive the interest?
1 Answer from Attorneys
Re: Estate in Escrow Accounts
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You will have to ask the attorney how the monies are being held. The Florida Bar does not allow an attorney to keep any monies belonging to his or her licents.
In Miami-Dade County, monies belonging to an estate are generally placed in a restricted depository (and not the attorney's trust account)and any interest is earned by the estate. The chances are the same is being done in your case.
Scott R. Jay, Esq.