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Is avoiding probate with joint ownership possible?
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Is avoiding probate with joint ownership possible?
by
Law Editor
on
3 Jun 2011 5:46 PM
Post Points: 5
Is avoiding probate with joint ownership possible?
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by
Law Editor
on
3 Jun 2011 5:46 PM
Post Points: 5
Probate court can be a stressful process and often taxes estates significantly. Avoiding probate with joint ownership is a reliable method when you have someone you trust. You can establish a joint tenancy or community property between you and another person (spouse, child, sibling or trusted friend). Upon your death, your property will automatically transfer to this person, for free, without having to work with the courts. This is a useful option for married couples who own a house or car, or share joint bank accounts. The joint owner may do anything they wish with the assets after your death.
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