A blocked account in probate refers to cash or securities that are placed in a bank subject to withdrawal upon court order. A blocked account is a bank or other account created by court order, requiring a court order to deposit or withdraw funds.
A blocked account in probate isn’t an account freeze
An account freeze refers to a legal injunction an account where assets are frozen and not able to be accessed. A blocked account occurs when someone is not deemed to be able to handle finances in the eyes of the court, for instance, if they are a minor.
When does an account get blocked?
Blocked accounts are frequently created to protect judgments awarded to minors and conserved adults who cannot manage their own finances on their own. A common reason for petitioning the courts would be when somebody needs access because they’re in another’s name (e.g., grandparents). Blocked accounts frequently occur during probate or guardianship cases.
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