Sergio Pino and the Battle of Probate vs Joint Tenancy

It is not altogether uncommon for a probate case and a criminal case to collide. However, a Florida criminal and probate case is rarely as sensational as that of the recent case of Sergio Pino, a wealthy South Florida “Century” developer.

The Case of Sergio Pino

For those who are unfamiliar with the case, the recent 0suicide of multi-millionaire developer Sergio Pino ended his part in a murder-for-hire case that was being built against him by both federal prosecutors and the FBI. However, the alleged criminal events are now playing a role in the battle over his estate – which is currently playing out in a Miami-Dade probate court.

Mr. Pino executed a new last will and testament on March 11, 2024. This is the same day that a food and beverage worker on Mr. Pino’s 92 foot yacht was taken into federal custody, along with five other men, in the face of murder-for-hire charges. The U.S. Attorney says Mr. Pino would face the same charges as well, if not for his recent suicide.

The newly executed will named Mr. Pino’s brother, Carlos, as representative of his estate. The will granted the brother power to retain and sell all or any part of his property. The beneficiaries of the will are listed as Mr. Pino’s four children. Mr. Pino’s wife of 32 years, Tatiana, was not included as a beneficiary. Tatiana had filed for divorce in April 2022.

At Tatiana’s request, on Friday a Miami probate judge blocked Mr. Pino’s brother from taking control of his estate as the personal representative as had been dictated in the recent last will and testament.

Probate vs Joint Tenancy

The stakes in this probate battle are high – according to financial statements produced in the now-dismissed divorce case, the couple’s net worth is either 153 million, or 359 million. (There appears to be confusion on the correct amount. In a deposition Mr. Pino had stated that the larger amount was stated as a joke, and the lower number is the accurate amount.)

Whatever the truth, Tatiana’s attorneys are accusing Mr. Pino and his brother of conspiring to siphon away millions of dollars from Tatiana and Mr. Pino’s jointly-held assets. Tatiana’s lawyers have been granted a short window of time to conduct investigations into actions Sergio may have taken with assets that would have rightfully belonged to Tatiana.

Jointly-held Assets in Florida

Generally, under Florida law, if a spouse and a decedent held property jointly as tenants by entirety, then the surviving spouse is automatically entitled to the property. The probate process would not need to come into effect, as ownership passes to the joint tenant by operation of the law.

In the Pino’s case, determining what is jointly-held property and owed to Tatiana, vs. part of the estate and potentially by-passing Tatiana altogether per the terms of the newly executed last will and testament, seems to be building into a high-stakes battle with no clear resolution yet in sight.

Contact Suncoast Civil Law

The Sarasota wills & probate attorneys at Suncoast Civil Law are standing by to discuss your own probate questions and discuss your case. Contact our experienced team to see how we can help.

Sources:

law.com/dailybusinessreview/2024/09/09/battle-over-sergio-pinos-empire-has-begun-and-its-going-to-be-a-mess/?slreturn=20240813205901

miamiherald.com/news/local/community/miami-dade/article291117740.html