Too frequently people come to us and say, “I don’t know why I need to do any estate planning because my husband and I own everything jointly (otherwise known as joint tenancy).” Although joint tenancy is a powerful tool, many mistake it as a replacement for your family’s estate planning needs.
In this short video, Larry Parman shares what Joint Tenancy is exactly and, when used as a substitute for estate planning, its three major pitfalls that can come back to haunt your family.
Founder and Owner at Parman & Easterday
After helping his own family deal with a lengthy probate and the IRS following his father’s untimely death in a farm accident, Larry Parman made a decision to help families create effective estate plans designed to reduce taxes, minimize legal interference with the transfer of assets to one’s heirs, and protect his clients’ assets from predators and creditors.
Latest posts by Larry Parman, Attorney at Law (see all)
- What Happens to Assets When Creating a Trust? - February 27, 2017
- Are Living Wills Different from Regular Wills? - February 28, 2017
- Why Wills are Such a Common Estate Planning Tool? - March 1, 2017
