Can I avoid probate by using joint tenancy with right of survivorship?
Many people have become aware of the problems associated with probate and assume they can totally avoid probate by retitling all their assets to read “joint tenancy with right of survivorship” (JTWROS). This can create many unintended and negative consequences. JTWROS is a form of ownership in which two or more people own 100 percent of the same asset. The right of survivorship feature of joint tenancy means that the last joint tenant to die owns the entire asset. Ownership of the asset passes to the surviving joint tenant by operation of law. The other joint tenants merely had the use of the asset during their lifetime. For instance, if Bill and Mary–husband and wife–own their house as joint tenants with right of survivorship and Bill dies, the title to the house passes to Mary by operation of law and does not have to pass through probate. However, upon Mary’s death, the house will have to pass through probate before her children can take control of the house. Although JTWROS can po
