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FL H1439

Bill

Status

Passed

6/29/2020

Primary Sponsor

Commerce Committee

Click for details

Origin

House of Representatives

2020 Regular Session

AI Summary

  • Financial institutions may pay funds from a deceased person's individual bank accounts (up to $1,000 aggregate) to a qualified family member without court proceedings, provided at least 6 months have passed since death and the family member submits a death certificate and sworn affidavit

  • Family member eligibility follows a hierarchy: surviving spouse first, then adult children, then adult descendants, then parents of the decedent

  • Creates an informal process for distributing intestate estates containing only exempt personal property plus nonexempt property valued at $10,000 or less (plus certain medical/funeral expenses), available when the decedent has been deceased more than 1 year with no pending administration

  • Financial institutions are protected from liability when releasing funds based on the affidavit, while the family member who receives funds remains personally liable to creditors and rightful heirs for amounts exceeding their proper share

  • Making a false statement in the affidavit to obtain funds constitutes theft under Florida law (s. 812.014)

Legislative Description

Bank Property of Deceased Account Holders

Last Action

Chapter No. 2020-110

6/29/2020

Committee Referrals

Banking and Insurance3/5/2020
Commerce Committee1/31/2020
Insurance And Banking Subcommittee1/17/2020

Full Bill Text

No bill text available