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Joint ownership

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B

biker

Guest
What is the name of your state? Florida

New member here and have a quesion.

I would like to know if i need a will,living trust, POA or some other such document.

My situation is simple. Everything i have is in the wife's name and mine( joint ownership). Any money,property and even my automobile,no children own only a 27 year old mobile home and the property it is situated on.

I am thinking i don't need anything else. I don't have enough money to be liable for estate taxes since my worth is considerably less than one million.
Thanks for any reply.
 
Last edited:


JETX

Senior Member
"I would like to know if i need a will,living trust, POA or some other such document."
*** Based ONLY on the information in your post, it would be advisable to at least have a will. Part of the problem is that since your property is "in the wife's name and mine( joint ownership)", it does NOT automatically convert to her property on your death. That would require it to be in JTROS (Joint Tenancy, Rights of Survivor) form.
 

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