How to protect property in the event of a death of a co-owner?
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How to protect property in the event of a death of a co-owner?
My husband and I bought a house and some land. We have the land titled with “joint tennants with rights of survivorship” which means to me, that if I die my husband gets the house/land and vice versa. If my husband dies before we complete our Will, would his daughter have any rights to the house and land and vice versa. And if I died, would my 2 sons have any rights to the house and land? How should we word our Will so it’s clear – our assets to go the surviving spouse and it’s only if both die that it’s liquidated and split amoungst the vultures?
Asked on November 11, 2012 under Estate Planning, Georgia
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
Generally speaking, if all your property is jointly held with rights of survivorship then it passes one to the other upon the death of either joint tenant. There is no need for a Will to insure that but it can't hurt. The specifics of drafting a WIll are best left to an in person discussion with some one in your area. Good luck.
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