Q: In Florida, what type of "frozen" account is used for Depository of liquid estate assests? Deposits YES/withdrawals NO
3rd party Bank associate says to open a CD in estate's name, but ALL liquid assests not in one place so would locking some in a CD prevent adding liquid assests obtained later?
A: Normally assets of an estate would be deposited in a depository account that would mean a court order would be required for distribution of assets from the account. Normally estate assets are not deposited in a time account such as a CD which might prevent access to those assets without penalty when needed. Some banks do not regularly handle estate assets, so there is a question as to why it is being contemplated to deposit assets of an estate into a CD. Is there a court order for this?
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