Potential Hazards of Joint Ownership & Beneficiary Designations

  • 16 June 2018
  • Author: IEP Team
  • 0 Comments

Joint tenancy is one of the most common forms of asset ownership. When one or more persons hold title to an asset as joint tenants, each of them owns the asset. The full legal expression for this form of ownership is Joint Tenants with Rights of Survivorship (JTWROS). Nevertheless, as with most things in life, there are hidden hazards when it comes to this form of asset ownership. On this episode, Attorney Mark Wight breaks down some of the potential hazards of joint ownership & why keeping your beneficiary designations current is vital to the success of your estate plan. 

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