FORT LAUDERDALE – A Broward County man is seeking judicial determination that a joint tenancy account is exclusively owned by him.
Brent Burdick filed a complaint on May 12 in the 17th Judicial Circuit Court of Florida - Broward County against William B. McCoy seeking declaratory judgment.
According to the complaint, the plaintiff alleges that in 2002, he opened a joint tenancy account with right of survivorship and named defendant as his survivor solely as an estate planning device upon his death. The suit states the defendant was not intended to receive any interest or control over the account so long as plaintiff is alive. However, the suit states the investment company alerted plaintiff that the defendant attempted to initiate an electronic fund transfer in January without the plaintiff's authorization, which resulted in the freezing of his account until a court order establishes ownership.
The plaintiff holds McCoy responsible because the defendant allegedly caused plaintiff denial of access to his fund, inability to trade in the account and halted all dividend reinvestments, and forced plaintiff to retain and incur attorneys' fees.
The plaintiff seeks judgment against defendant, declaratory relief, compensatory and punitive damages, attorney's fees, costs and interest. He is represented by John P. Kelly of The Kelly Law Firm in Fort Lauderdale.
17th Judicial Circuit Court of Florida - Broward County case number 17-009113