Joint Property: Convenient Estate Planning Tools or a Legal Pitfalls?

Mayes Law FirmWills and Estates

Lawyers, accountants and financial advisors have long promoted joint tenancy and joint bank accounts as a quick and easy estate-planning tool. The advantage: no probate fees. This is because of a legal principle called survivorship; it means that money and property held jointly automatically become the property of one joint owner upon the death of the other. The pitfall, however, … Read More