Quite often we have to educate our clients on the perils of joint tenancy in Michigan. Many clients believe that joint tenancy is the silver bullet of estate planning since assets held jointly with another will typically avoid the Michigan probate courts. Unfortunately, by holding an asset with another as joint tenancy can open up a whole can of worms that you hadn't planned on.
Take a look at the, Massachusetts Estate Planning Lawyers, Bacon Wilson, P.C., blog for their great post on the 10 perils of joint tenancy.
Christopher J. Berry, Esq., An Oakland County Estate and Trust Attorney, is a Partner with The Law Office of Witzke Berry PLLC, which practices in the areas of Estate Planning, Michigan Medicaid Planning, and Michigan Probate Litigation.
