Dear Forum,
Next week, my spouse and I are closing on the purchase of a home in Maine where we hope to someday retire. How should our names be worded on the title in order to:
1) best protect the property from creditors/lawsuits (we are both physicians);
and
2) ensure automatic transfer without probate to the surviving spouse when one of us dies
Should it be worded as any of the options below: “Name & Name…
A) …as tenants in the entirety”
B) …as tenants in the entirety with rights of survivorship”
C) …as joint tenants with rights of survivorship”
D) …as tenants in common with rights of survivorship”
E) Something else?
Thanks for your help—we appreciate it!
Best,
Atticus713
Next week, my spouse and I are closing on the purchase of a home in Maine where we hope to someday retire. How should our names be worded on the title in order to:
1) best protect the property from creditors/lawsuits (we are both physicians);
and
2) ensure automatic transfer without probate to the surviving spouse when one of us dies
Should it be worded as any of the options below: “Name & Name…
A) …as tenants in the entirety”
B) …as tenants in the entirety with rights of survivorship”
C) …as joint tenants with rights of survivorship”
D) …as tenants in common with rights of survivorship”
E) Something else?
Thanks for your help—we appreciate it!
Best,
Atticus713
Statistics: Posted by Atticus713 — Thu Aug 08, 2024 12:05 am — Replies 2 — Views 305