The estate planning process is one that requires a careful review of your personal assets. If you fail to properly understand how you own your assets you may fail to adequately provide for those beneficiaries you intend to benefit.
The family home is usually one major asset an individual wishes to dispose of under his or her Will. However, if a property is owned as joint tenants with another property owner then the rules of survivorship will apply. According to the doctrine of survivorship, property owned as joint tenants passes to the surviving joint owners.
The decision as to whether you should own a property as joint tenants or tenants-in-common is an important one and will depend on your individual circumstances.
