Is Jointly Owned Property a good estate Plan?
Is Jointly Owned Property a good estate Plan? Jointly owned property can be a decent estate planning tool for some people, but it does not work for everyone. Choosing to use this tool can be troublesome
because: – It creates risk. Joint owners have complete access and can use the funds for their own purposes. These funds are also available to the creditors
of all joint owners. – It could lead to inequity among heirs. – When one person dies before another and
property is held jointly, it can create confusion and chaos.