Legal Question in Wills and Trusts in Florida
In Florida, can debts (such as a home equity loan) of an estate be paid out of a bank account that has a "pay on death" designation or does the beneficiary of the "pay on death" account get paid first? There are other assets, such as real estate that will eventually produce cash, when sold.
Asked on 2/14/10, 1:31 pm
2 Answers from Attorneys
Richard Stoffels
Stoffels Law Group
If an account is designated on the registration at the bank as POD, it is not even part of the probate estate, and the personal representative has no right to the money.
Answered on 2/19/10, 1:43 pm
David Slater
David P. Slater, Esq.
Not without the beneficiary's consent.
Answered on 2/19/10, 2:59 pm
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
