I have new clients, a same-sex couple. When interviewing them about their assets, they told me that they own their home as joint tenants with rights of survivorship (JTROS), and not as tenants-in-common (TIC). In brief, the difference between the two are as follows. Â If two people own property as JTROS, then upon the death...
Estate Planning
In today’s (October 15, 2009) Wall Street Journal, there is an article entitled “Is There a Trap Lurking in the Language of your Will?” written by reporter Laura Sanders. The article correctly points out that many semi-wealthy couples may have a serious problem in their Wills.  By “semi-wealthy” I mean estates worth up to $4...
The Illinois Supreme Court ruled today in the Estate of Max Feinberg. Even though I’m not an Illinois attorney (which means the case does not directly apply to me), I find it very interesting both as a Trusts and Estates attorney and as a Jew. Fort Lauderdale and Broward County have a large, often elderly...