What does “jointly-owned” mean?
Joint ownership (also called “joint tenancy”) is different from other types of co-ownership. If you own property jointly with someone else, it means that both of you own all of the property. (In other kinds of co-ownership each of you owns half of the property.) Jointly owned property automatically becomes the property of the surviving owner when one of the owners dies.
Joint ownership (also called “joint tenancy”) is different from other types of co-ownership. If you own property jointly with someone else, it means that both of you own all of the property. (In other kinds of co-ownership each of you owns half of the property.) Jointly owned property automatically becomes the property of the surviving owner when one of the owners dies. LawDepot’s Health Care Directive includes both a Living Will and a Medical Power of Attorney. A Living Will allows you to convey your wishes regarding medical treatment when those wishes can no longer be personally communicated. A Medical Power of Attorney allows you to designate someone to make health care decisions for you when you are unable to make decisions for yourself. Neither of these documents can be used to dispose of your property.
