Wills, Trusts and Estates: Joint Tenancy pitfalls

Estates, wills and trusts: The pitfalls of joint tenancy

STUART, Fla. – Feb. 21, 2018 – As individuals get older, many decide to add their children’s names to their homes or their brokerage and bank accounts. This is called owning something in “joint tenancy.” People are told that by doing this they will avoid probate and automatically pass those assets to the persons named on the property or accounts.

This is true, but doing this may have significant adverse consequences that most people are not aware of.

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