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Article: `Joint Tenancy' Not Always Best Solution
- Article from:
- Chicago Sun-Times
- Article date:
- September 8, 1995
- Author:
CopyrightCopyright 1995 Chicago Sun-Times. (Hide copyright information)
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Q. Your recent piece on tenancy by the entireties shattered my
faith in joint tenancy, something I always took as gospel. But, as
was said in Oliver Twist, "If the law supposes that . . . the law is
a ass, a idiot."
I always believed that most married people, just like my
parents did, should own everything in joint tenancy - till death do
they part. When death did part them, the survivor automatically
owned it all - no fuss, no probate, no lawyers. Joint tenancy was,
after all, "the poor man's will."
A. Your beliefs about joint tenancy may have been based on an
incomplete understanding of just what joint tenancy really is.
Nonetheless, for many people, joint tenancy has worked ...