Probate and Jointly Held Accounts in Palm Beach, FL

Many Palm Beach families assume that putting a child’s name on a bank account, or holding a home jointly with a spouse, automatically keeps everything out of probate. Sometimes that’s true; sometimes it isn’t. Here is a Q&A on how jointly held accounts and property interact with Florida probate.

Do joint accounts automatically avoid probate?

It depends on how the account is titled. A bank or brokerage account held as joint tenants with right of survivorship generally passes directly to the surviving owner when one owner dies, bypassing probate. By contrast, an account held as tenants in common does not carry survivorship, so the deceased owner’s share can become part of the probate estate. The exact wording on the account documents controls, which is why Palm Beach families should review their account titling rather than assume.

What about “payable on death” designations?

Florida recognizes payable-on-death (POD) and transfer-on-death (TOD) designations. With a valid POD or TOD beneficiary in place, the account passes directly to the named person at death, outside probate, much like a life insurance beneficiary designation. This is a simple, common tool for Palm Beach residents who want a specific account to go to a specific person without court involvement.

If a joint account avoids probate, does it also avoid creditors?

Not necessarily. Avoiding probate is not the same as avoiding the decedent’s debts. Florida law has provisions that can reach assets passing outside probate to satisfy valid claims in certain circumstances. A surviving joint owner who receives funds may still face exposure if the estate’s probate assets are insufficient to cover legitimate creditor claims. So a joint account is a convenience tool, not a guaranteed debt shield.

I added my adult child to my account for convenience. Will it pass to them?

This is one of the most common Palm Beach pitfalls. If the account is titled with right of survivorship, your child may legally inherit the whole balance at your death, even if you intended it only to be split among all your children or used to pay your bills. The titling can override your wishes and your will. If your goal was convenience rather than a gift, a durable power of attorney under Chapter 709 of the Florida Statutes may better accomplish account access without unintentionally disinheriting other heirs.

How does jointly held real estate work?

Florida real estate can be held in several forms. Property held by a married couple as tenants by the entireties passes automatically to the surviving spouse and carries strong creditor protections. Property held as joint tenants with right of survivorship also passes to the survivor. Tenants in common, however, does not, so a deceased co-owner’s share may require probate. For a Palm Beach homestead, constitutional protections under Article X, Section 4 add another layer that affects how the property descends.

Are there other ways to keep a Palm Beach home out of probate?

Yes. Beyond survivorship titling, a properly executed Lady Bird deed, also called an enhanced life estate deed, lets an owner keep full control and use of the property during life while naming who receives it at death, generally avoiding probate for that property. It is a popular Florida tool, but it must be drafted correctly and coordinated with homestead and any mortgage terms.

The takeaway for Palm Beach families

Joint titling, POD designations, and deeds like the Lady Bird deed can keep specific assets out of probate, but they can also produce surprises if they conflict with your overall plan or expose a survivor to creditors.

This is general information, not legal advice. Account titling and Florida survivorship rules have important exceptions. Before relying on a joint account or deed in Palm Beach, consult a licensed Florida estate attorney.