What is joint tenancy? | 20West Legal Sudbury MA | Estate Planning Basics скачать в хорошем качестве

What is joint tenancy? | 20West Legal Sudbury MA | Estate Planning Basics

https://www.20westlegal.com/ If you co-own property with someone, have you ever stopped to think about what happens if one of you dies? Does the surviving owner automatically get the property, or does it have to go through probate? The answer depends on how the property is titled. In this quick but essential video, Erica Endyke of 20West Legal explains the difference between Joint Tenancy and Tenancy in Common—and why knowing which one you have can make all the difference in your estate plan. (0:10) With Joint Tenancy, both owners have an equal, undivided interest in the entire property. That means: • If one owner passes away, the property automatically transfers to the surviving owner—no probate needed. • This is common for married couples who want an easy transfer of ownership. • Sounds great, right? Well, not always. If both owners pass away at the same time, or if the surviving owner wants different heirs, things can get complicated. (1:01) With Tenancy in Common, each owner has a defined percentage of ownership, which means: • If one owner dies, their share does NOT automatically pass to the other owner—instead, it goes to their heirs or estate. • This means probate could be required to transfer ownership. • If there’s no estate plan in place, a judge could decide who inherits the deceased owner’s share. The way your property is titled determines whether your family faces probate or a smooth transition. But even if you have the right ownership type, that doesn’t replace a solid estate plan. Here’s why: Trust, Will, Power of Attorney, Healthcare Directives Whether you own property alone or with someone else, how it’s titled matters. Without the right estate plan in place, your family could end up in court, dealing with unexpected legal battles and delays. If you’re in Sudbury, Framingham, Wayland, Concord, Natick, or anywhere in Metrowest Boston, let’s make sure your property is protected and your wishes are honored. 📞 Have questions? Contact us to get personalized guidance on estate planning. We're here to help you protect what matters most! Call us at (978) 440-0014 or book your appointment at http://bit.ly/20westlegal-scheduler. Register your spot for our free 20-minute webinar: https://bit.ly/20minwebinar-ep To know more about us, visit our website: https://20westlegal.com/ Follow us! Facebook:   / 20westlegal   LinkedIn:   / 20westlegal   Instagram:   / 20westlegal   Twitter:   / 20westlegal   Pinterest:   / 20westlegal   Tumblr: https://www.tumblr.com/blog/20westlegal/ Yelp: https://www.yelp.com/biz/20westlegal-... "Protect what matters most, no matter what." #jointtenancy #tenancy #assetprotection