What is Joint Tenancy with Right of Survivorship in North Carolina?

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Information about What is Joint Tenancy with Right of Survivorship in North Carolina?
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Published on March 13, 2014

Author: costleylawnc

Source: authorstream.com

WHAT IS JOINT TENANCY WITH RIGHT OF SURVIVORSHIP: WHAT IS JOINT TENANCY WITH RIGHT OF SURVIVORSHIP IN NORTH CAROLINA? PowerPoint Presentation: Simple Solutions? PowerPoint Presentation: People sometimes look for simple solutions This can extend to the realm of estate planning: This can extend to the realm of estate planning PowerPoint Presentation: A Little Bit of Knowledge... They say that a little bit of knowledge is a dangerous thing: They say that a little bit of knowledge is a dangerous thing If you make assumptions based on incomplete information, unintended negative consequences could result: If you make assumptions based on incomplete information, unintended negative consequences could result PowerPoint Presentation: Right of Survivorship Joint Tenancy With PowerPoint Presentation: Joint tenancy with right of survivorship is sometimes viewed as a simple estate planning solution PowerPoint Presentation:  of Property Co-Ownership A joint tenant is a co-owner of property:  A joint tenant is a co-owner of property PowerPoint Presentation: You could add someone to the title of your property, making this person a joint tenant PowerPoint Presentation: of Survivorship Right The joint tenant would generally have right of survivorship : The joint tenant would generally have right of survivorship PowerPoint Presentation: This means that the surviving joint tenant would inherit the entirety of the property after the death of the other joint tenant PowerPoint Presentation: This transfer would take place outside of the time-consuming process of probate PowerPoint Presentation: Drawbacks of Joint Tenancy PowerPoint Presentation: Joint tenancy can sound great on the surface, but there are drawbacks PowerPoint Presentation: One of them is the immediate surrender of sole ownership of your property PowerPoint Presentation: You cannot sell the property without the joint tenant's approval PowerPoint Presentation: If the joint tenant has financial problems, the property can be attached PowerPoint Presentation: COMPREHENSIVE ESTATE PLANNING SOLUTIONS PowerPoint Presentation: Joint tenancy is not a comprehensive estate planning solution PowerPoint Presentation: If you would like to discuss all of your options with a licensed professional, contact our firm to schedule a free consultation PowerPoint Presentation: Click to visit: organizeyourassets.com

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