Posted on: 23rd Feb, 2009 12:02 pm
My life partner & I have investment properties in JTWROS. How can I specify that upon my death, my share should go to my son. Is this where a beneficiary deed would work. We also own the home we live in under JTWROS. Should my partner need to sell after my death, he will reap full benefit, right? and nothing would go to my son? Is there an alternative?
Hi Sandman,
Since both of you are included in the title as the joint tenants, on your death the property would be inherited by your partner through the right of survivorship. If you want your son to inherit your share in the property, I think you need to terminate the joint tenancy agreement first and then you can create a will or a trust or simply quitclaim your share to your son with a life estate for yourself.
Since both of you are included in the title as the joint tenants, on your death the property would be inherited by your partner through the right of survivorship. If you want your son to inherit your share in the property, I think you need to terminate the joint tenancy agreement first and then you can create a will or a trust or simply quitclaim your share to your son with a life estate for yourself.