Ask Experts Questions for FREE Help !
Ask
    Arley-Dee's Avatar
    Arley-Dee Posts: 2, Reputation: 1
    New Member
    		  
    #1

    Jul 18, 2009, 05:51 PM
    Will vs joint tenancy
    If all my property is in joint tenancy and I have no minor children, do I still need a will?
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #2

    Jul 18, 2009, 06:06 PM

    No
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
    Expert
    		  
    #3

    Jul 18, 2009, 07:42 PM

    If all checking and savings account, if all houses, cars and other items are owned jointly, not as much.

    Also all insurance policies, car and home have to be in joint names
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #4

    Jul 18, 2009, 08:15 PM
    Quote Originally Posted by Fr_Chuck View Post
    Also all insurance policies,
    Insurance policies just need to list the other party as beneficiary.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
    Expert
    		  
    #5

    Jul 18, 2009, 08:20 PM

    I was referring to car and house insurance, once the other person becomes the owner, if they are not under the other policy they have to get a new one, and the refund premium goes to the "estate of"

    Believe me, I just went though this, I though we had it all fixed so there was no "estate funds" when my mom died.

    We missed the car insurance refund, and a 50 dollar deposit into a checking account that Regions Bank required for a person to have a CD in their bank.

    And I believe we have a issue with refund check from the medicare suppliment that was cancelled upon her death.

    So there is almost no way not to end up with at least some money in an "estate account"

    Now the problem is, do you do probate for 400 or 500 dollars. When the cost of probate may actually cost more than the money.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Joint tenancy but not married [ 1 Answers ]

Can I put my relative on title as joint tenant. If I should die, will 100% ownership be passed down to him/her, not my spouse, and would there be any tax to be paid by the joint tenant.

Joint Tenancy [ 3 Answers ]

Hello folks - This is actually a continuation of a previous issue that was discussed here. If you want to understand the background, please visit my post titled "can this will be enforced" Well, I had a chance to pull one of these deeds and examine it further. It appears that my father, more...

Joint tenancy disagreement [ 3 Answers ]

I live in Pennsylvania and own a property with another person intended to be our primary residence. We agreed to split mortgage and utilities 50/50. Now she does not want to pay utilities because she is in a rental property somewhere else and only comes to this property 4 d/month. Does she still...

Common tenancy or joint tenancy [ 4 Answers ]

Can anyone help me find out the difference in common tenancy and joint tenancy? How does either of these affect a divorce, or if you die, etc. What do I need to know on these in case of death or divorce?

Joint tenancy with survivorship vs will [ 2 Answers ]

If my mother and stepfather each leave to the other in their will all of their property, etc And they have a joint tenancy with survivorship warranty deed... Where does that leave us kids... He has kids and she has kids... When one dies does his/her half automatically jump to the kids...

View more questions Search