Bill Text: FL S0892 | 2018 | Regular Session | Introduced

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Bill Title: Financial Institution Payments to Surviving Successors

Spectrum: Partisan Bill (Republican 1-0)

Status: (Failed) 2018-03-10 - Died in Banking and Insurance [S0892 Detail]

Download: Florida-2018-S0892-Introduced.html

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       Florida Senate - 2018                                     SB 892
       
       
        
       By Senator Garcia
       
       
       
       
       
       36-00988A-18                                           2018892__
    1                        A bill to be entitled                      
    2         An act relating to financial institution payments to
    3         surviving successors; creating s. 655.795, F.S.;
    4         authorizing a financial institution to pay to the
    5         surviving successor of a decedent depositor, without
    6         any court proceedings, order, or judgment authorizing
    7         the payment, the funds in the decedent’s deposit
    8         accounts and certificates of deposit if the sum does
    9         not exceed a specified amount; providing that the
   10         financial institution has no duty to make certain
   11         determinations; defining the term “surviving
   12         successor”; requiring the surviving successor to
   13         provide a certified copy of the decedent’s death
   14         certificate and a specified affidavit to the financial
   15         institution; providing construction relating to
   16         liability and indemnification; providing an affidavit
   17         form that the surviving successor may use; providing
   18         construction relating to any conflict with the Florida
   19         Probate Code; providing an effective date.
   20          
   21  Be It Enacted by the Legislature of the State of Florida:
   22  
   23         Section 1. Section 655.795, Florida Statutes, is created to
   24  read:
   25         655.795 Payment to successor without court proceedings.—
   26         (1)(a) A financial institution in this state may pay to a
   27  surviving successor of a decedent, without any court
   28  proceedings, order, or judgment authorizing the payment, the
   29  funds on deposit in all deposit accounts and certificates of
   30  deposit if the total amount standing to the credit of the
   31  decedent in the financial institution does not exceed $10,000.
   32  The financial institution has no duty to determine whether the
   33  funds belong to the separate estate of the decedent or to the
   34  community that existed between the decedent and any surviving
   35  spouse.
   36         (b) For purposes of this section, the term “surviving
   37  successor” means:
   38         1. The surviving spouse of the decedent;
   39         2. If the decedent did not leave a surviving spouse, any
   40  adult child of the decedent; or
   41         3. If the decedent did not leave a surviving spouse or any
   42  adult children, the mother or father of the decedent.
   43         (c) The surviving successor shall provide the financial
   44  institution a certified copy of the decedent’s death certificate
   45  and an affidavit that includes all of the following:
   46         1. A statement attesting that the surviving successor is
   47  the surviving spouse, adult child, or parent of the decedent. In
   48  the case of an adult child, the affidavit must attest that the
   49  decedent left no surviving spouse. In the case of a parent, the
   50  affidavit must attest that the decedent left no surviving spouse
   51  or adult children.
   52         2. The date of death and the address of the last residence
   53  of the decedent.
   54         3. A statement attesting that the total amount on deposit
   55  with the financial institution does not exceed $10,000.
   56         4. A statement acknowledging that the payment of the funds
   57  constitutes a full release and discharge of the financial
   58  institution for the amount paid and that the surviving successor
   59  indemnifies the financial institution against claims; demands;
   60  expenses, including attorney fees and court costs; losses; or
   61  damages incurred by the financial institution for taking any
   62  action, or failing to take an action, in connection with the
   63  disbursement of the funds.
   64         (d) The payment of funds by the financial institution to
   65  the surviving successor constitutes a full release and discharge
   66  of the financial institution for the amount paid. A person,
   67  natural or juridical, does not have any right or cause of action
   68  against a financial institution because of the payment, and the
   69  surviving successor shall indemnify and hold harmless the
   70  financial institution against claims; demands; expenses,
   71  including attorney fees and court costs; losses; or damages
   72  incurred by the financial institution for taking any action, or
   73  failing to take an action, in connection with the affidavit and
   74  the disbursement of the funds.
   75         (e) The surviving successor is answerable to any person
   76  prejudiced by an improper distribution, including any personal
   77  representative or other fiduciary acting on behalf of the
   78  decedent or the estate of the decedent, or any beneficiary of
   79  the decedent.
   80         (2) The surviving successor may use the following affidavit
   81  form to fulfill the requirements of paragraph (1)(c):
   82  
   83    AFFIDAVIT UNDER SECTION 655.795, FLORIDA STATUTES, TO OBTAIN   
   84        BANK PROPERTY OF DECEASED ACCOUNTHOLDER: ...(Name of       
   85                            deceased)...                           
   86  State of ....
   87  County of ....
   88  
   89  I, ...(affiant’s printed full name)... of ...(affiant’s
   90  residential address)..., being first duly sworn, on oath deposes
   91  and states (initial one response):
   92  
   93         1. .... I am the surviving spouse of the deceased.
   94  .... I am a surviving adult child of the deceased, and the
   95  deceased left no surviving spouse.
   96  .... I am a surviving parent of the deceased, and the deceased
   97  left no surviving spouse or adult children.
   98         2. As shown in the certified death certificate, the date of
   99  death was .....
  100         3. The last address of the deceased was .....
  101         4. I certify that I am entitled to payment of the
  102  deceased’s deposit accounts (the “Funds”) held by the following
  103  financial institution: ...(the “Financial Institution”)...,
  104  which amount does not cumulatively exceed $10,000. I hereby
  105  request full payment from the Financial Institution.
  106         5. The payment of the Funds constitutes a full release and
  107  discharge of the Financial Institution for the amount paid.
  108         6. I, individually and as the affiant, agree to indemnify
  109  the Financial Institution and hold it free and harmless from any
  110  and all claims; demands; expenses, including attorney fees and
  111  court costs; losses; or damages incurred by the Financial
  112  Institution for any action taken, or failure to take an action,
  113  in connection with this Affidavit and disbursing the Funds to me
  114  or as instructed by me.
  115  By ...(signature of affiant)...
  116  
  117         Sworn to and subscribed before me this .... day of
  118         .... by ...(name of affiant)..., who is personally
  119         known to me or produced .... as identification, and
  120         did take an oath.
  121  
  122         ...(name of notary public)...
  123         Notary Public
  124         My Commission Expires:
  125         ...(date of expiration of commission)...
  126  
  127         (3) In the event of a conflict between this section and the
  128  Florida Probate Code, this section supersedes the conflicting
  129  provision of the Florida Probate Code.
  130         Section 2. This act shall take effect July 1, 2018.