Is holding property in joint tenancy better than establishing a Panama asset protection foundation?
A joint tenancy is dependent upon both parties staying alive to maintain the protection of assets. If one of the joint tenants should die, then the joint tenancy is broken and the protection is eliminated. Basically, any plan which depends on someone staying alive is a bad method of estate planning. Additionally, there have been some rare court decisions which have broken the joint tenancy or tenancy by the entireties so as to render that form of ownership ineffective for asset protection purposes.
Related Questions
- Can a joint tenancy title be changed without permission of the other joint tenant, and is my mother entitled to all or half of the property?
- Is holding property in joint tenancy better than establishing a Panama asset protection foundation?
- Should Spouses Always Take Title to Land in Joint Tenancy or Survivorship Marital Property?
