The importance of how you hold Title on the property deed

Many clients ask me how they should hold title, and my response is it depends. Before making the decision as to how to hold title, it is good to know the ways in which you can and confer with your financial planner and tax advisor. If you own your own business, you may also want to speak to your attorney to understand how the business may be impacted.

How you hold property Title can make a big difference in:
a) the event of a death of one of the property owners;
b) having or not a legal instrument that will state how the assets are to be handled in the event of a death;
c) if you get sued, either personally, in your business, etc.;
d) who has the right to sell the property or part of the property;

and there are many more scenarios that may or may not pertain to you where your advisors can help you avoid potential pitfalls.

Click on the following to understand the different ways that Title can be held.