Why Avoiding Probate Matters in Florida 

Probate can feel like a legal maze. It’s time-consuming, public, and often expensive. While Florida offers a streamlined process for small estates, many families still find themselves stuck in court for months—or longer—after the passing of a loved one. 

The good news? You can keep many of your assets out of probate altogether with simple, proactive planning. 

At Lumsden Law, we help clients protect their assets and families with tools like beneficiary designations and joint accounts with rights of survivorship. These estate planning methods are efficient, legally recognized, and—when properly structured—ensure that your assets pass directly to your chosen heirs without court involvement. 

What Are Beneficiary Designations? 

A beneficiary designation is your legal instruction for who should receive a particular asset after your death. These instructions override what’s written in your will. 

Common assets with beneficiary designation options: 

• Life insurance policies 

• Retirement accounts (IRAs, 401(k)s) 

• Annuities 

• Payable-on-death (POD) bank accounts 

• Transfer-on-death (TOD) investment accounts 

These assets do not go through probate as long as the beneficiary designation is properly completed and up to date. 

Benefits of Beneficiary Designations 

✅ Avoid Probate: Assets transfer directly to your named beneficiary. 
✅ Fast Access: Funds can be accessed within weeks, not months. 
✅ Cost-Effective: No legal or court fees required. 
✅ Private: Your designations are not public record like a will. 
✅ Flexible: You can update them as your life changes. 

When Beneficiary Designations Go Wrong 

While these tools are powerful, mistakes happen, and they can have serious consequences: 

• Outdated Beneficiaries: Failing to update after a divorce or death can result in unintended recipients. 

• Naming Minors: Florida law restricts direct distribution to minors. Without a custodial account or trust, this can trigger court involvement. 

• Lack of Contingent Beneficiaries: If your primary beneficiary is deceased and no backup is named, the asset may go through probate. 

• Conflicts with Your Will or Trust: Your beneficiary designations take priority. If they contradict your will, the designation wins. 

Lumsden Law helps you review your full estate plan to ensure everything aligns—reducing risk and confusion. 

Understanding Joint Accounts with Rights of Survivorship 

Joint ownership with rights of survivorship (JTWROS) is another tool used to bypass probate. 

When one owner dies, the surviving joint owner automatically assumes full ownership of the account or property. No court, no delays. 

Assets that can be jointly owned: 

• Bank accounts 

• Real estate 

• Investment accounts 

• Vehicles 

Joint Ownership: Pros and Cons 

✅ Benefits: 

• Avoids probate 

• Immediate access to funds or property 

• Ease of management for elderly or incapacitated individuals 

⚠️ Risks: 

• Loss of control: The co-owner has full access to the funds. 

• Creditor exposure: The asset could be at risk if the co-owner is sued. 

• Unintended distribution: Your share doesn’t pass through your will—it goes entirely to the co-owner. 

• Unequal treatment of heirs: If one child is a joint owner, others may be unintentionally disinherited. 

This is why it’s critical to work with an estate planning attorney—like the team at Lumsden Law—to understand whether joint ownership is truly right for your goals. 

Probate-Free Assets vs. Probate Assets 

Asset Type	Subject to Probate?
Life insurance with a beneficiary	❌ No
Bank account with payable-on-death	❌ No
Property owned jointly (JTWROS)	❌ No
Sole-owned bank account with no POD	✅ Yes
Real estate in your name only	✅ Yes
Assets held in a revocable trust	❌ No

When to Use These Tools 

These probate-avoidance tools are most effective when: 

• You want speed and simplicity for your loved ones. 

• You have minor or special needs beneficiaries and want to structure gifts carefully. 

• You wish to keep financial affairs private. 

• You want to ensure equal treatment across multiple children or heirs. 

That said, a will or trust is still essential. Beneficiary designations and joint accounts are not replacements for a comprehensive estate plan. Instead, they should work in harmony with your overall strategy. 

Call to Action 

If you live in Florida and want to keep your loved ones out of probate court, it’s time to review your estate plan. Lumsden Law helps clients across Winter Park, Orlando, and the surrounding communities secure their legacy with smart, efficient planning tools. 

📞 Call now to schedule your estate review 
🌐 Visit lumsdenlawfirm.com 
🗂️ Let us help you avoid probate—and protect what matters most. 

FAQs – Avoiding Probate in Florida

Q1: What assets can avoid probate in Florida?
A: Assets like life insurance with a named beneficiary, payable-on-death (POD) bank accounts, jointly owned property with rights of survivorship, and assets held in a revocable trust typically avoid probate in Florida.

Q2: Do beneficiary designations override a will in Florida?
A: Yes. Beneficiary designations legally take precedence over your will. If there’s a conflict, the asset will go to the named beneficiary, not the person listed in your will.

Q3: Are there any risks with joint ownership?
A: Yes. While joint accounts avoid probate, they may expose your assets to the co-owner’s creditors, reduce your control, and unintentionally disinherit other heirs if not structured properly.

Q4: Do I still need a will or trust if I use beneficiary designations?
A: Absolutely. Beneficiary designations and joint accounts are useful tools, but they don’t replace a full estate plan. A will or trust ensures all assets—especially those not covered by designations—are handled according to your wishes.