DID YOU KNOW? Did you know that property which is held jointly with right of survivorship will defeat a will if the deed to the property and will conflict? We receive calls about this all the time and it’s good information for all of us to know.
Take, for example, Party A and Party B who own a piece of land jointly with right of survivorship. Assume Party A and Party B are siblings. Party A passes away first and leaves all of her Estate to her children in her will, thinking that her interest in the land will go to her kids because of the will. Because the land is held jointly with right of survivorship with Party B, Party A’s interest in the land will actually pass to Party B, who will own the land 100% free and clear, and the children of Party A will not own anything. The deed trumps the will.
Proper estate planning can help avoid this. And we can help. Give us a call to discuss any questions you have or set up an appointment.
Disclaimer: If you have specific questions, call one of our offices. We have a team of highly skilled lawyers standing by to assist you. This article is for informative purposes only and is no substitute for advice with an attorney fully informed about the facts of a specific matter. This does not constitute an offer of representation nor does it create an attorney-client relationship.
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