Posted on: October 16, 2025
Do you own your home, other property, or a financial account with someone else, such as a spouse or an adult child? If so, you might be surprised to learn that a common way of owning property, such as joint tenancy, can cause problems for your loved ones in the future by potentially causing situations […]
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Posted on: October 9, 2025
Your home is likely one of the most valuable assets you own, if not the most valuable. When you consider how to leave someone your home, it’s important to plan carefully to ensure your wishes are carried out. Calling it an asset can sound cold. A home is far more than an assortment of materials […]
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Posted on: September 22, 2025
The United States is currently experiencing the most significant generational wealth transfer in its history. When considering the true cost of inheriting a home, it’s important to note that over the next few decades, baby boomers are expected to pass down an estimated $84 trillion in money and property,[1] around $18–19 trillion of it related […]
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Posted on: August 21, 2025
Imagine the following scenario: You have been living in a house for years. As your mother’s sole heir, you inherited it from her when she passed away. But in reality, you might not own what you think you own. You pay the taxes and insurance. You make the repairs and mow the lawn. You call […]
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Posted on: March 13, 2025
Planning for the future of your home can be complicated, especially when you want to ensure that a loved one can continue living there after you are gone. Two standard tools for accomplishing this are life estates and right of occupancy trusts. A life estate grants someone the legal right to live in a home […]
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Posted on: March 3, 2025
Rising housing costs, the desire for companionship, and the need to share resources increasingly lead buyers to consider buying a home with someone other than a spouse, such as a friend, relative, or significant other. Although this arrangement can be beneficial on several levels, it should be approached with open communication, careful planning, and a […]
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Posted on: February 4, 2025
A home is often one of the most important assets that people own. Therefore, most people want to stay in their homes until they die and then have a loved one receive it. One common way to pass a home to loved ones is through a will. However, transferring property with a will requires probate, […]
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Posted on: November 7, 2024
One common way to avoid the probate requirement for real estate after the owner dies is to add children or other individuals to the property title as joint owners with rights of survivorship. When joint owners have survivorship rights, and one joint owner passes away, the remaining owners automatically receive the entire interest of the […]
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Posted on: September 9, 2024
People often set up bank accounts or real estate so that they own them jointly with a spouse or other family member. The appeal of joint ownership, specifically with survivorship rights, is that when one owner dies, the other owner(s) will automatically inherit the property without it having to go through probate. Also, joint property […]
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