Joint Assets vs Non-Joint Assets in the event of Death
How does sole ownership and joint ownership affect the way assets are distributed after our death?
Most of us hold our assets in one of two main ways: either sole, or in some form of co-ownership structure. In most co-ownership situations, the method of holding assets is joint ownership. This applies mostly to joint bank accounts and property.
For example, do you know the difference between joint tenancy and tenancy-in-common with regards to property ownership? Do you know in which of the two is your property held?
In the event of our passing...
- How do jointly held assets get distributed to our loved ones compared to assets we own in our own name?
- What other ways are there of holding assets?
- Will the manner in which one holds one's assets drastically alter the way such assets are treated in the event of that person's death?
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