Can jointly owned property avoid probate?
Joint ownership of personal or real property may be able to avoid probate, but there are no guarantees. Joint tenancy can also create unanticipated problems. Joint tenancy includes “a right of survivorship”. Upon the death of one joint owner, the remaining joint owner automatically becomes the sole owner of the property without probate. However, upon the death of the surviving owner (or if all owners die at the same time), the property is subject to probate. Joint ownership merely postpones probate. Creating joint ownership also may put your property in the hands of creditors. For example, if a mother puts her property into joint ownership with her son, this property is available to the creditors of the son even though the property was originally owned by the widow. Does a power of attorney allow me to collect and distribute a decedent’s assets? A power of attorney is automatically revoked upon your death. A power of attorney merely gives someone else the right to act on your behalf du
