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Business
Tax Tips: Creating joint ownershipPublished 10/26/08
For reasons unknown, many property owners continue to add the names of children and family members to the title of their property without thinking through the long- or short-term consequences. The type of ownership that many seem to favor is a "joint tenancy" arrangement - a convenient way to ensure that certain assets will ultimately pass to family members without the need for probate and other costs. Joint tenancy - referred to as joint ownership with survivorship rights - is usually a good idea for husbands and wives. However, with nonspouses a joint-tenancy plan could have costly consequences when it is used as a...
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If you encounter other problems, please email ewiffin@capitalgazette.com and include your name, username, and any errors or messages that are displayed. The more information you can provide, the better able we will be to assist you.