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92 items found for "joint tenants"

  • Joint Bank Account After Death: Who Gets the Money?

    Understanding Joint Bank Accounts A joint bank account is a type of bank account that is opened by two Who Owns the Money in a Joint Bank Account After Death? The surviving co-owner can access their partner’s funds in a joint account. A joint right of survivorship account controls estate planning. Common Rules and Regulations Regarding Joint Bank Accounts and Death Joint bank accounts come with various

  • Alternatives to Joint Tenancy

    If a parent holds property as a joint tenant with a child, it might make it so other children do not Recently, Investor’s Business Daily discussed alternatives to joint tenancy in “Best Ways To Title Your Tenants in Common – Property can also be held as tenants in common. Unlike joint tenancy, each owner’s share of the property is kept separate and does not automatically If you have questions about these or other alternatives to joint tenancy, consult with an estate planning

  • Not On the Same Page? What to Do if Your Spouse Disagrees With You About Estate Planning

    Marriage is about compromise, which usually means coming to an agreement about where to live, whether to have kids, and possibly even when to retire. Unfortunately, some couples find themselves in complete disagreement about planning for the future. Retirement is something so many people look forward to; especially with your significant other. If you find yourself frustrated by your spouse’s outlook on estate planning and planning for your future together, consider these tips: Assess Your Finances Together Coming to a place of mutual understanding about your finances can help get couples on the same page about the future. Take a thorough look into your debts, your savings, property that is owned, investment accounts, insurance policies, and any retirement accounts you have. This can paint a more complete picture of what lies ahead and about how you should be planning for your golden years now. Define Your Dreams Perhaps you have always dreamed of spending your golden years in a villa in Tuscany. Maybe your spouse has imagined themselves in a senior community by the beach. Regardless of your dreams for the future, it is important to understand each other’s goals. This is especially true of your shared legacy that you leave behind when your time expires. Will you leave your assets to a favorite charity, or will the things you worked hard for your entire life be inherited by a loved one? These kinds of dreams are not as fun to consider as your retirement plans, but they are just as important. Understand Your Options As you discuss estate planning with your spouse, also be sure to consider possible unexpected occurrences. While it is hard to plan for the worst-case scenario, playing with the theoretical can help you and your partner make informed decisions for your family. Are you prepared to handle a serious illness? What about the sudden death of your spouse, child, or even grandchild? Answering these tough questions can help you come to a mutual understanding about your options for the future and take action now to better prepare your family for sudden tragedies. Talk with an Experienced Estate Planning and Elder Law Professional If you and your spouse are still struggling to get on the same page about estate planning, it may be time to consult with a professional. Your Legacy Legal Care can answer questions you have about your options and help you decide on the right plans for your family’s future and has experience in proposing options that fit both partners’ interests. Do not wait until the last minute – click here to schedule online or call us at (281) 885-8826 to get started now. #disagreement #jointestateplan #jointtrust #spouse

  • Why Estate Planning Is Essential for Unmarried Couples

    The following are the essential estate planning steps that can help unmarried couples: Joint Ownership If one joint tenant dies, their interest in the property ceases to exist and the remaining joint tenants

  • 4 Genius Ways to Avoid Probate in Texas

    Creating Joint Ownership with Rights of Survivorship Another popular option for avoiding probate in Texas is creating joint ownership with rights of survivorship, which allows you to share ownership of an asset For example, let’s say you own a house with your sibling as joint tenants with rights of survivorship

  • How Do You and Your Spouse Hold Title to Your Property?

    Jointly held property can be held either as joint tenants or as tenants in common. Owning property jointly may be a bit unclear because joint ownership could mean either joint tenancy Most spouses own property as joint tenants. Reference: MoneySense (May 10, 2016) “Joint tenancy vs. tenants in common” #JointTenancy #AssetProtection #EstatePlanningLawyer #TenantsinCommon #ProbateCourt #Inheritance

  • Houston Will and Trust Lawyer: Read This Before Adding Your Child’s Name to Your Banking Account!

    If you add your child’s name to the deed of your home, you made him or her joint owner.

  • Easy Ways to Help Plan Your Estate

    Joint ownership. than one name on the title, the property is deemed to be jointly held, especially if the magic words “joint tenants with rights of survivorship” are used. As a result, the probate process is avoided as long as there is a surviving joint owner.

  • Dealing with Non-Probate Assets| Houston Probate Lawyer

    most common assets that are passed outside of Harris County probate for your reference: Assets held in joint tenancy with rights of survivorship Retirement accounts such as IRAs or 401(k)s that have a beneficiary On the flip side, the probate process can take a year or more to get to the point where assets can be

  • How to Remove Someone from a Life Estate

    The Roles of Life Tenant and Remainderman The life tenant is the individual who holds the life estate The life tenant must maintain the property and cannot commit waste. During the Life Tenant's Lifetime During the life tenant's lifetime, removal can occur voluntarily or After the Life Tenant's Death After the life tenant dies, the life estate typically ends, and the property These can affect both the life tenant and the remainderman.

  • My Common Law Spouse Died. How Do You Prove Common Law Marriage After Death?

    These may include things such as living together for a specific amount of time or filing joint tax returns This includes things like joint bank account statements, utility bills with both names on them, any insurance The most important piece of evidence is usually filing a joint tax return. family members or other people who know them well regarding their relationship status Details about any joint Furthermore, attorneys can access public records such as tax filings where joint filing status may have

  • What You Cannot Do With a Will

    Joint owners with right of survivorship each have an equal ownership interest in the property. If one joint owner dies, his or her interest immediately ceases to exist, and the other joint owner owns

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