Tag Archives: deed

Living Trust Choices

Published December 6, 2013 by The Foundation of the Tennessee and Memphis Conferences of the United Methodist Church

The living trust is becoming quite a popular estate planning strategy. It costs more than a will, but includes many features that are helpful during life and in your estate. Let’s review some of the basic principles of the living trust. Continue reading

Separate & Joint Property

Published September 14, 2012
United Methodist Foundation for the Tennessee and Memphis Conferences

“My brother Pete and I own a ranch together,” said Joe to his advisor. “Our mother deeded the four sections of her ranch to us with right of survivorship. As a single person, I think that I will plan to leave 50% of my share to Pete and the other half to my favorite charity. Of course, if Pete dies, he is married and probably wants to leave his share to his spouse and children.”

Do Pete and Joe need to review their estate plans? Yes! These two rancher brothers held title as joint tenants with right of survivorship. If the single brother (Joe) were to pass away, Pete would inherit his brother’s half of the ranch. Even though Joe stated that half of his share should go to his favorite charity, nothing will be given to charity.

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