Q: Florida statute 69.031 requires the court to designate a bank. How do I propose a bank to the court?
I am the Personal Representative of my mom's estate and I need to open a restricted depository account per my Letters of Administration. How do I do propose my bank to the court so the court may designate it?
A: This should be something your attorney should assist you with since some banks are more difficult than others in servicing these accounts and if you need periodic payments from the account there may only be a few banks that will provide this service. Since you are a personal representative I am assuming you do have an attorney since personal representatives are required to have attorneys
A: Generally speaking, you should first contact your bank to determine if they will agree to open a restricted depository account. Then a petition should be filed with the court for an order designating the bank. You should be working with a probate attorney to guide you through this process.
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