Answer to How long are accounts frozen?
The Durable Power of Attorney agent has no authority to sign checks or to
act in any way, after the moment of death. Accounts and transaction are frozen
until estate administration procedures take over.
Intestate (no Will) or Will Estate.
If there is no Living Trust, and the estate will be settled by the laws of
intestacy (without a Will) or by probate administration of a valid Will,
then allow a week or a few weeks to obtain Probate Letters of Administration.
In order to obtain Probate Letters of Administration, the person designated
in the Will to serve as Personal Representative (executor) must employ an
attorney to petition the court to approve the Will and to appoint the Personal
Representative, if qualified to serve according to Florida laws. If the Will
was signed and properly witnessed in Florida, and is Self-Proven, the Will
should be approved, usually within one to four weeks after all the information
is gathered. This means the court will approve and authorize the Personal
Representative, if the Personal Representative resides in Florida. Allow
another week to ten days to obtain a Fiduciary Bond if the Personal Representative
does not reside in Florida. Then the Personal Representative can access funds
in order to set up an account for the estate, and to reimburse himself or
herself for funeral expenses and for legal fees.
Living Trust Estate.
With the Living Trust document and a certified original Death Certificate,
the surviving Trustee or Successor Trustee has power to manage accounts and
property if already properly titled in the name of the Living Trust. This means
on-going expenses can be paid without delay or borrowing from beneficiaries.