Feb 4, 2020

What’s In a Name? (Part 2): Tax and Other Consequences Caused by Joint Ownership of Real Property

Estate Tax

In an earlier article we posted entitled “What’s in a Name? (Part 1),” we set forth the various possible ways that assets can be titled. Titling controls how an asset that you own will be distributed upon your death.  If you own an asset in your individual name, this asset will most likely be distributed through the terms of your Will through the court process called probate, or if you die without a Will, through the process known as administration.  If you own an asset that permits you to designate a beneficiary, such as a retirement account, that designation controls… Read more


May 30, 2018

What’s in a Name? (Part 1)

Estate Planning

Titling assets correctly is an essential part of a successful estate plan. Title controls how assets pass at the owner’s death. Depending on the title, some assets pass under terms of the Will, by operation of law, or pursuant to a beneficiary designation. While it is an integral aspect of planning, properly titling assets is often overlooked. Assets titled in the sole name of an individual become part of the owner’s probate estate when the owner dies.  Probate property will pass under the provisions of the owner’s Will, or if there is no Will, to the person’s heirs under the… Read more