Joint tenancy is a form of property ownership in which a husband and wife or others own property jointly with the rights of survivorship. This means that when one joint tenant dies, the property will pass automatically to the surviving joint tenants, subject to filing an inheritance tax return and paying inheritance tax liability, if any. Your will has no control over property which you own as a joint tenant with others. This may be useful in some situations, but may also cause unnecessary taxes. It is not advisable for all situations.
Joint tenancy disposes only of that particular property.
It makes no provision for anything else. POD and TOD accounts operate very much like joint tenancy, but the beneficiary has no interest in the affected property while you are alive. As with joint tenancy, these forms of holding property may be useful in some situations, but also may unnecessarily create tax liabilities, and accordingly should be used only professional guidance in appropriate circumstances. A previous choice may no longer be appropriate. By signing a durable power of attorney, you can appoint someone to act for you without the time or expense of a court proceeding.