I am buying a property jointly with another person. What do I need to think about when deciding who holds the title?
This is a very important question. How title to property is held has a direct impact on estate planning and disposition of property upon the death of a titleholder. Joint ownership can be used to reduce probate tax on death but is not appropriate in every circumstance.
At AGBL, we devote a considerable portion of our practice to will and estate planning. Advice on who should hold the title is provided as part of every residential real estate transaction we handle on behalf of our clients—there is no additional fee.