How to Open a Tenancy by the Entirety Account

Opening a tenancy by the entirety account in Florida requires more attention than most couples expect. Banks and brokerage firms do not explain the asset protection consequences of their account applications, and courts have held that the responsibility for selecting the correct ownership type falls entirely on the depositor.

The steps depend on whether the institution offers TBE as an ownership option. When it does, the couple must select it. Choosing JTWROS when a TBE option is on the form creates a presumption against entireties ownership under Beal Bank, SSB v. Almand & Associates (Fla. 2001). When TBE is not offered, Section 655.79 creates a default presumption of entireties ownership, but the couple should still document their intent.

Opening a New Bank Account as TBE

A married couple opening a new bank account should start by confirming that the bank does not disclaim TBE in its deposit agreement. Four major banks do. Truist’s Bank Services Agreement provides that a joint account “will be treated as joint tenants with right of survivorship, and not as ‘tenants in common’ or as ‘tenants by the entirety’.” Fifth Third’s deposit rules say a joint account “shall be deemed as owned as joint tenants with right of survivorship, not as tenancy by the entireties.” PNC’s agreement and the Florida disclosures in the Regions deposit agreement each disclaim entireties ownership “unless otherwise expressly designated” on the account records, so at those two an express designation still decides the question. Twelve states and the District of Columbia recognize tenancy by the entirety for bank accounts, and which banks allow TBE designation varies by institution.

The second step is completing the signature card correctly. If the bank’s application offers TBE as one of several ownership options, select it. Do not select “joint tenants with right of survivorship,” “multi-party account with right of survivorship,” or any similar option when TBE is available as an alternative. Selecting JTWROS when TBE is on the form constitutes an affirmative rejection of TBE under Beal Bank.

Some banks use abbreviations on the signature card: “Ten. by Ent.,” “Tenancy Entir.,” or “TBE.” These all mean the same thing. If you are unsure which option to select, ask the branch manager. Do not rely on the bank teller to explain the legal consequences. Courts have held that banks have no obligation to advise customers about asset protection implications.

The third step is reading and keeping a copy of the customer agreement. A clause in the customer agreement can defeat TBE ownership even when the signature card says nothing. The Fourth District Court of Appeal held in Storey Mountain, LLC v. George (Fla. 4th DCA 2023) that a couple can disclaim entireties ownership in any writing the signature card incorporates by reference. The clause there said the account is not owned as tenants by the entireties. Keep a copy of the agreement as it existed on the date the account was opened.

Sample TBE Account Designation Language

An express entireties designation is a short statement, signed by both spouses, that records their intent to own a new bank account as tenants by the entirety from the day it is opened. It belongs in the account paperwork itself—on the signature card, in the account application, or in a signed statement the bank keeps in the account file.

When the bank’s signature card lists tenancy by the entirety as an ownership option, checking that box is the designation, and no separate statement is needed to supply it. The sample below is for paperwork that accepts a written ownership designation instead, signed and presented when the account is opened rather than sent to the bank afterward; the bracketed terms are placeholders for the couple’s names and account details.

The designation supplies in writing what most account applications never ask: an express selection of tenancy by the entirety, signed by both spouses, dated the day the account opens. Titling disputes turn on what the bank’s paperwork offered and what the couple selected. In Mathews v. Cohen, 382 B.R. 526 (M.D. Fla. 2007), a couple’s JTWROS selection on a stock registration was held not to be an express disclaimer of the tenancy because that paperwork never offered an entireties option. A signed designation in the account file settles both questions before a creditor raises them.

When the Bank Does Not Offer TBE

Florida Statutes Section 655.79 creates a presumption that any joint account held by a married couple is TBE unless the couple specifies otherwise in writing. When a bank does not list TBE on its signature cards and does not disclaim TBE in its customer agreement, this presumption applies automatically. A married couple that opens a joint account at such a bank is presumed to have a TBE account.

The presumption is strongest when no TBE option was available on the form because the couple had no opportunity to accept or reject TBE. A creditor would need to overcome the presumption by showing that the couple intended some other form of ownership, which is difficult when the bank never presented the choice.

A Florida bankruptcy court has noted, however, that when a bank does not offer TBE, the depositors bear the initial burden of showing their intent to hold the account as TBE. The couple should take steps to document their intent even when the bank’s system does not accommodate TBE.

The most effective approach is to send a signed letter to the bank declaring that both spouses intend the joint account to be held as tenants by the entirety. The letter should include the account number, both spouses’ names, and a request that the bank place it in the account file.

A sample letter might read: “We, [Spouse A] and [Spouse B], as husband and wife, intend our joint Account #[XXXX] to be held as Tenants by the Entirety under Florida Statutes Section 655.79. We request that this letter be placed in the account file.” Keep a copy for your records.

A supplementary step is to execute a TBE affidavit—a sworn statement signed by both spouses affirming that they intend to hold the account as tenants by the entirety. The affidavit creates stronger evidence of intent than an unsigned letter because it carries the weight of a sworn declaration. If a creditor later challenges the account’s status, the affidavit and the letter together establish a clear record that the couple intended entireties ownership from the outset.

Even if the bank’s staff are unfamiliar with TBE or cannot formally acknowledge it in their system, this documentation creates a paper trail that can be produced in court.

Opening a Brokerage Account as TBE

Most major brokerage firms explicitly offer TBE as an account ownership option, making the process more straightforward than at many banks.

At Charles Schwab and Interactive Brokers, TBE is a standard checkbox on the account application. Select it during the application process, and the account will be designated as TBE from the outset.

At Fidelity, there is no entireties box on the retail brokerage application. On the New Fidelity Account form for a non-retirement brokerage account, select “Other non-trust account,” enter the registration, and call a Fidelity representative; the form’s own guidance routes entireties to that option. Fidelity’s advisor-channel application carries a “Joint: Tenants by Entirety” checkbox. Fidelity permits a transfer-on-death designation on an entireties account, and transfer-on-death registration is not available in Louisiana.

Vanguard’s published documents do not settle the question. Its Brokerage Account Agreement names no joint ownership registration at all and never mentions tenancy by the entirety, and its Transfer on Death Plan is open only to accounts registered to an individual or held as joint tenants with rights of survivorship. A couple who wants an entireties registration at Vanguard should confirm what is available directly with the firm before funding the account.

A married couple’s investment accounts often hold more value than bank accounts, so getting the brokerage account designation right is worth the extra effort each firm’s process requires.

Converting an Existing Account to TBE

Many married couples discover—often after consulting with an attorney—that their existing joint accounts are titled as JTWROS rather than TBE. The conversion process depends on whether the account is at a bank or a brokerage firm.

Bank accounts: in Loumpos v. Bank One, 423 So. 3d 856 (Fla. 2025), the Florida Supreme Court held that Section 655.79 authorizes a joint spousal bank account to be held as a tenancy by the entireties even if one spouse originally established it. The presumption does not depend on the unities of time and title. An account opened by one spouse and later designated as TBE no longer fails on those grounds, which gives a couple a defense when a creditor attacks an account that was already converted.

For planning, the reliable fix is to open a new joint account with an express entireties designation and transfer the funds from the old account. Asking the bank to retitle an existing account or add a TBE designation to it is not a dependable planning strategy, and correct titling at account opening avoids any dispute over the original account’s history.

Brokerage accounts require more caution. The Loumpos ruling applied to bank accounts governed by Section 655.79. Whether the same reasoning extends to brokerage accounts remains an open question. The safer approach for brokerage accounts is still to open a new joint account with both spouses as original owners, designate it as TBE, and transfer the assets from the old account.

Conversion mechanics differ by firm. Fidelity’s Change of Account Registration form lists “Joint: Tenants by the entirety” as a new registration type, so at Fidelity the change runs on that form rather than on a letter of instruction. Ask any other firm what its own process is before relying on one. Keep independent records of cost basis before transferring assets between accounts.

Accounts to Avoid for TBE

Avoid banks that expressly disclaim TBE in their customer agreements for asset protection purposes. Under Storey Mountain, a disclaimer in the customer agreement counts even though it never appears on the signature card. Truist, Fifth Third, PNC and Regions all name entireties ownership and reject it, and the PNC and Regions clauses give way to an express entireties designation on the account records.

Online banks that designate all joint accounts as JTWROS in the deposit agreement are a different case. A designation naming joint tenants with right of survivorship does not by itself disclaim entireties ownership. The Florida Supreme Court held as much in Beal Bank, and the Eleventh Circuit applied the rule to that exact wording in Del Amo in 2025. Couples should still read the full deposit agreement before opening an account at any online bank.

Keep the account exclusively the couple’s: In re Planas (Bankr. S.D. Fla. 1996) held that an account a third person co-owns, or can draw on alone, is not entireties property.

Fintech platforms are the wrong place for an entireties account. Robinhood’s customer agreement states that “the only type of joint account ownership offered by Robinhood is Joint Accounts With Rights of Survivorship,” and it bars a joint account entirely if either owner is a Louisiana resident. Webull’s published account types are joint tenants with rights of survivorship and joint tenants in common only. Coinbase does not support joint accounts on Coinbase.com.

Maintaining TBE Status Over Time

TBE ownership can be lost after the account is opened if the couple or the bank makes changes that break the requirements for entireties protection. Several recurring situations cause problems.

Do not add third parties as account owners. A TBE account must be held exclusively by the married couple. Adding a parent, child, or business partner as a co-owner destroys the tenancy by entirety because the property is no longer held solely by the marital unit. If someone other than the spouse needs access to the account for convenience purposes, use a power of attorney or authorized signer designation rather than adding them as a joint owner.

Both spouses should use the account. While day-to-day transactions do not require both spouses to approve each action, the account should function as a genuine joint marital account. If only one spouse ever deposits into or withdraws from the account, a creditor could argue that the account is not truly held by the marital unit. This argument is difficult to win after Beal Bank, but it can be avoided entirely by ensuring both spouses have access and both use the account at least occasionally.

Review the account after bank mergers. When one bank acquires another, the surviving entity’s customer agreement replaces the original. If the acquiring bank’s agreement includes a TBE disclaimer that the original bank’s agreement did not, the account may lose its TBE designation going forward. Review account terms whenever you receive a notice of a bank merger or acquisition, and confirm that TBE ownership has been preserved under the new agreement.

Monitor account statements for unexpected changes. A bank’s account documents change over time. In Connell v. Connell, 93 So. 3d 1140, 1142 (Fla. 2d DCA 2012), the court recorded that the Bank of America deposit agreement a couple signed around 2009 offered a choice between a joint tenancy with right of survivorship and a tenancy by the entireties; the bank’s current agreement does not name the registration at all, and the election now lives on the signature card. Customer agreements also reserve the right to change their terms, so check the titling on statements and re-read the agreement periodically.

A bank’s own relabeling does not disclaim entireties ownership, because only a writing the couple signed can do that. A creditor that sees a non-TBE designation on the bank’s records may still serve a garnishment writ based on what those records show. Catching such changes early allows the couple to move the funds before a creditor acts.

Keep copies of all account-opening documents. The signature card, the customer agreement as it existed on the date the account was opened, any letters of intent, and any TBE affidavits submitted to the bank are the primary evidence of TBE ownership. Store these documents in a safe place accessible to both spouses.

Quick Reference by Account Type

Account Type	Best Approach	Key Consideration
Bank account (TBE offered on form)	Select TBE on signature card; read customer agreement	Do not select JTWROS when TBE is available
Bank account (TBE not offered)	Open as joint; send letter of intent and TBE affidavit; read customer agreement	Confirm the agreement does not disclaim TBE
Brokerage account (TBE offered)	Select TBE during application	Process varies by firm
Brokerage account (TBE not offered)	Contact firm to request TBE designation before selecting JTWROS	If TBE is unavailable, consider a different firm
Existing individual account	Open new joint TBE account and transfer assets	Loumpos helps defend an account that was already converted; a new account is the reliable path
Online bank / fintech	Read full deposit agreement; send letter of intent if no TBE disclaimer	Situs and governing law questions may affect TBE applicability

Selecting the wrong ownership type, failing to read the deposit agreement, or relying on banks that disclaim entireties ownership are the most common errors that defeat TBE protection. Only TBE provides creditor protection against individual judgments; JTWROS and tenancy in common both leave the account vulnerable to garnishment despite offering survivorship rights.