Be Aware: Joint Tenancy Holds Risks And Medicaid Disadvantages

Most folks don’t know about the dangers that joint tenancy may bring after execution. Joint tenancy is an estate planning instrument that creates co-ownership in an asset and allows for property interests to move to surviving tenants automatically upon the death of a co-owner. Co-ownership likewise serves as a probate-avoidance tool, but such titles can sometimes do more harm than …

7 Simple Facts That Make Understanding Joint Tenancy Easier

If you’re confused about what joint tenancy means and how the ambiguous legal instrument affects estate assets during probate, you’re not alone. In a nutshell, you’d execute this ownership arrangement to control who will take your share of property by default after you pass away. As a co-owner, you may hold either tenant in common or joint tenant assets. You …

Detailed Q&A Session Reveals The Secrets Behind Joint Tenancy In Iowa

You probably already know that assets and property held in joint tenancy can evade probate proceedings—but what really goes on when two individuals own equal shares of an entire property? Words like “right of survivorship,” “tenancy-in-common,” “inheritance tax” and other joint tenancy jargon may sound Greek to the layperson looking for a means to get assets into the hands of beneficiaries …

What Everybody Ought to Know Before Co-Owning Property in Joint Tenancy

Are joint tenant assets really safe from probate proceedings? The Court of Appeals of Iowa says yes and no in an opinion handed down earlier this year—but let’s talk about that in a minute. First, let’s explore whether joint tenancy is risk free and fully protects the surviving tenant’s ownership title. The Ups and Downs of Co-Ownership Joint tenancy with rights …