Joint tenancy is a commonly used form of ownership between two or more people. It can be an easy solution. However, it can have drawbacks. Read on to learn more. Joint Tenancy Pros and Cons … [Read more...] about Joint Tenancy Pros and Cons
TOD / POD, beneficiary designations, and joint tenancy can be simple ways to transfer assets at death. However, these simple methods lack some of the benefits of a trust. Read on to learn more. Beneficiary Designations, etc., Aren’t a True Substitute for a Trust … [Read more...] about Beneficiary Designations, etc., Aren’t a True Substitute for a Trust
In Missouri, as is the case in other states, both real and personal property may be titled in many different ways. An individual may hold title to property. A corporation may hold title to property. A trust may even hold title to property. Finally, property may be jointly titled when two or more people share ownership of the property. If you share ownership of property with another person it is imperative that you understand the different types of joint ownership in Missouri. Titling property as … [Read more...] about What Is Joint Tenancy with Rights of Survivorship in Missouri?
If you are an older single American and you own your home you may be concerned about your home’s future if something were to happen to you. One option that people often consider is creating a joint tenancy with an adult child. When done properly, creating a joint tenancy with a child does offer a simple method for transferring ownership of the property in the event of your death. It also allows your child to control the property in the event of your incapacity. Missouri law allows for the … [Read more...] about Creating a Joint Tenancy with a Child