Tenancy by the Entirety

In Florida, married couples can hold jointly owned property as tenants by the entirety which can help couples to avoid probate and protect one spouse from creditors of the other.  When someone dies and they and their spouse owned a property as tenants by the entirety, the property is automatically passed to the surviving spouse and the creditors of the deceased spouse cannot reach any property which the couple owned as tenants by the entirety.

Any property, including bank accounts, can be held as tenancy by the entirety.  If a married couple owns a bank account jointly, it is presumed under Florida law that this account is held as tenancy by the entirety.

For more information about estate planning and probate avoidance, contact one of our experienced estate planning attorneys at (941) 906-1231.