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Consider some of these important facts before adding someone as a joint owner to an account or piece of property. #EstatePlanning #EstatePlans #Trusts #Wills #Estates #Glendora #Upland #ElderLaw #LTC bit.ly/3ZhPpFU

Any debt or obligation incurred by the other joint owner could affect you. #EstatePlanning #EstatePlans #Trusts #Wills #Estates #Glendora #Upland #ElderLaw #LTC bit.ly/3ZhPpFU

If the joint owner files bankruptcy, has a tax lien, or has a judgment against them, you could end up with a new co-owner一your old co-owner’s creditors! #EstatePlanning #EstatePlans #Trusts #Wills #Estates #Glendora #Upland #ElderLaw #LTC bit.ly/3ZhPpFU

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.

If you add your adult child to the deed on your home and they have debt you do not know about, your property could be seized to collect that debt. #EstatePlanning #EstatePlans #Trusts #Wills #Estates #Glendora #Upland #ElderLaw #LTC bit.ly/3ZhPpFU

Although “your” equity of the property will not necessarily be taken if you have a joint trust, that is little relief when your home is put on the auction block! #EstatePlanning #EstatePlans #Trusts #Wills #Estates #Glendora #Upland #ElderLaw #LTC bit.ly/3ZhPpFU

Your joint property could end up going to someone you did not intend. #EstatePlanning #EstatePlans #Trusts #Wills #Estates #Glendora #Upland #ElderLaw #LTC bit.ly/3ZhPpFU

Blended family structures have the potential to result in situations that can be difficult or impossible to navigate when someone dies. #EstatePlanning #EstatePlans #Trusts #Wills #Estates #Glendora #Upland #ElderLaw #LTC bit.ly/3ZhPpFU

If you own your property jointly with your spouse and you die, your spouse gets the property. #EstatePlanning #EstatePlans #Trusts #Wills #Estates #Glendora #Upland #ElderLaw #LTC bit.ly/3ZhPpFU

It can be established at the bank when opening an account, through the title company when buying real estate, or, in some cases, after creating an account or purchasing real estate.

In a joint trust, your property could conceivably go to the children of your spouse’s next marriage rather than, or in addition to, your own children. #EstatePlanning #EstatePlans #Trusts #Wills #Estates #Glendora #Upland #ElderLaw #LTC bit.ly/3ZhPpFU

You could accidentally disinherit family members with joint property. #EstatePlanning #EstatePlans #Trusts #Wills #Estates #Glendora #Upland #ElderLaw #LTC bit.ly/3ZhPpFU

If you designate someone as a joint owner and you die, you cannot control what they do with your property after your death. #JointTrusts #EstatePlanning #EstatePlans #Trusts #Wills #Estates #Glendora #Upland #ElderLaw #LTC bit.ly/3ZhPpFU

If you have a #JointTrust, you could have difficulty selling or refinancing your home. #EstatePlanning #EstatePlans #Trusts #Wills #Estates #Glendora #Upland #ElderLaw #LTC bit.ly/3ZhPpFU

What is an Automatic Inheritance? #EstatePlanning #EstatePlans #Trusts #Wills #Estates #Glendora #Upland #ElderLaw #LTC bit.ly/4e489x6

When married people die, does everything automatically passes to your spouse and children?

Referred to as dying intestate, rules for inheritance passage vary. State laws dictate this. #EstatePlanning #EstatePlans #Trusts #Wills #Estates #Glendora #Upland #ElderLaw #LTC bit.ly/4e489x6

Generally, the court will award your spouse a share of what you own. #EstatePlanning #EstatePlans #Trusts #Wills #Estates #Glendora #Upland #ElderLaw #LTC bit.ly/4e489x6

The court may divide your #assets between your children or parents, depending on your situation, if you die #intestate. #EstatePlanning #EstatePlans #Trusts #Wills #Estates #Glendora #Upland #ElderLaw #LTC bit.ly/4e489x6

Is there such a thing as Spousal Automatic Inheritance? #EstatePlanning #EstatePlans #Trusts #Wills #Estates #Glendora #Upland #ElderLaw #LTC bit.ly/4e489x6