If my Husband and I have Joint Ownership of our Home, Do we Need to have a Trust or is Will Sufficient if Something were to Happen to either of us?
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My husband and I have joint ownership of our house. To insure that if something happens to either of us (sickness, accident, death…) the other could sell the house or do whatever with it, do we need to set up a trust or would a will be enough? |
“My husband and I have joint ownership of our house. To insure that if something happens to either of us (sickness, accident, death…) the other could sell the house or do whatever with it, do we need to set up a trust or would a will be enough?”
The precise answer depends on the laws of your state. However, a will only takes effect after the person dies; it would have no effect at all in the event of sickness or accident. You should discuss your concerns with an estate planning attorney, who may be able to draft a power of attorney, a trust, or another document which will accomplish your goals.
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For more on this subject check out these categories: Property, Wills, Trust & Estate Planning
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State laws vary, and the above is intended as general advice, and not direct legal advice regarding any one particular situation in any one state. For direct personal legal advice related to your own situation you should consult an attorney familiar with the laws of your state and with your situation.
