Being named the personal representative of a loved one’s Florida estate is a big responsibility. You have been given an important legal role, but that doesn’t mean every part of the process will move smoothly.
One of the most frustrating situations happens when a personal representative is trying to deal with a bank or other financial institution. You may have been officially appointed by a Florida probate court and have Letters of Administration in hand, but still find yourself answering questions, providing documents, or dealing with delays.
Florida law now addresses some of these concerns through Fla. Stat. § 733.6125 and Fla. Stat. § 655.933. These provisions give personal representatives a stronger way to enforce the authority Florida probate law grants them.
What Did the Law Change?
§ 733.6125 can give personal representatives another option when someone refuses to recognize the authority given by the probate court. In some situations, you may also be able to recover taxable costs and attorney fees if you have to bring that proceeding to court.
And § 655.933(1) addresses another common issue: accessing a loved one’s safe deposit box. Once you’ve been appointed as the personal representative and have your Letters of Administration, Florida law has a process for accessing the box. That can make it easier to locate important documents, property, or other items that may be needed to administer the estate.
Does This Mean Every Bank Must Immediately Release Estate Assets?
However, the law is not a blanket requirement that a bank must hand over every account or asset as soon as a personal representative presents Letters of Administration.
Financial institutions still have responsibilities. They may need to:
- Verify the personal representative’s appointment
- Determine how an account is titled
- Identify beneficiaries
- Make sure the requested transaction complies with applicable law
Florida law specifically addresses certain interactions between personal representatives and financial institutions.
What Happens If a Bank Refuses to Cooperate?
§ 733.6125 includes a fee-shifting provision. Keep in mind that a refusal or request for additional documentation does not mean a bank is breaking the law. Financial institutions have legitimate procedures. Personal representatives should expect to provide documentation confirming their authority.
But what happens if you’ve provided the necessary documentation and the institution continues refusing to recognize authority that Florida law gives you?
You may have to go back to probate court. Under § 733.6125, a personal representative who successfully brings a proceeding to enforce authority may be entitled to taxable costs and attorney fees.
That doesn’t mean every disagreement with a bank will lead to attorney fees. But the law gives personal representatives a clearer path when cooperation breaks down.
What Should Personal Representatives Do?
If you’re serving as a personal representative and a financial institution is not cooperating, keep records of everything.
You want to save copies of correspondence, requests for documentation, responses, and records showing when you provided the requested information. If someone tells you that additional paperwork is required, ask what is needed and provide it through the right channels.
And if the situation continues to go nowhere, you may need to reach out to your probate administration attorney. They can see whether the institution has a legitimate reason for its position or whether an enforcement proceeding under Florida law may be appropriate.
A Major Change for Florida Estate Administration
When you’re already dealing with the loss of someone you love, having to chase down financial institutions can add another layer of stress to a difficult process.
§ 733.6125 and § 655.933(1) do not give personal representatives a magic key that opens every bank account. But these statutes provide important protection when a financial institution or another person fails to recognize authority granted under Florida law.
If a financial institution or another person refuses to cooperate without a legally backed reason, the law now gives you a stronger avenue for seeking enforcement and potentially recovering the costs of doing so.
Reach out to the Niebla Probate Firm today to discuss your current situation. Schedule a consultation.
