If a married couple own a home and other property together, does that property go directly to the surviving spouse?
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If a married couple own a home and other property together, does that property go directly to the surviving spouse?
Is it safe from creditors of the deceased? Both names were on the titles.
Asked on July 11, 2014 under Estate Planning, Oklahoma
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 10 years ago | Contributor
You are doing a little estate planning it seems. First response: yes it goes directly to the surviving spouse. Married couples generally hold property with "rights of survivorship." Second response: property that is owned in joint tenancy is subject to being attached by the creditors of either joint owner. I would speak with some one about what to do - maybe a trust? - to plan for the future. Good luck.
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