No. of Recommendations: 1
Note that I'm single, so I can't hold property jointly. The only way I can pass real estate to an heir without probate is through a trust.

That is not true. You do not have to be married to hold property jointly. You can put anyone else on the title to your property that you want, but it is not without ramifications including that you just made a gift to that person, that property is now part of that person's assets and could be taken in a lawsuit, etc., but there is no reason you can't hold property jointly, and that can be either with rights of survivorship where the property passes to the other owner(s) upon your death or as tenants in common where each owner can sell their ownership interest separately and would leave it to whoever they want in their own will.

I hold some property with DH as JTWROS, but I have also owned a house with my brother as Tenants in Common.

I will reiterate that I think it is best to seek the advice of an estate planning attorney when doing estate planning, and not do this as DIY. There are just too many pitfalls. And yes, I could keep you entertained for hours with some pitfalls that I have seen that you would just not believe.
Print the post  


The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.