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You may want to be familiar to the IRS publication 559 - http://www.irs.gov/pub/irs-pdf/p559.pdf Please review executor's duties and responsibilities.
POD provision allows to have immediate access to funds and avoid probate. However these funds are part of estate and in case estate taxes are due - these funds are taxable.
Let me know if any clarification needed.
Yes, funds from the account with POD provision will be released immediately upon presenting death certificate. There will not be probate for these CDs.
Federal estate taxes may be due for estates with value above $2,000,000. Florida estate tax are limited and related to federal estate tax collection. - http://dor.myflorida.com/dor/taxes/estate_tax.html
There is no inheritance taxes neither on federal nor Florida state level.
If any of these funds are held in tax deferred accounts (IRA etc) - the distribution will be included into taxable income.
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