What are the tax advantages of holding a tile for condo as a joint tenancy vs. a community property with right of survivorship for a new home buyer?

The doctrine of community property is a concept seen in the law of some western U.S. States. It is not a property law concept so much as an elevation of in recognition of the importance of equitable interests in both real and personal property that develop in consequence of the marital relation--i.e. in property settlements incident to divorce. But equitable property interests in property both brought into and developed within a marital relation exist in all common-law jurisdictions. As to estates in land that are held by married people, including the condominium, the classic one is the tenancy by the entireties. Some jurisdictions have abolished the TBE and only have the joint tenancy with right of survivorship and leave the fact of the existence or not of a marital relation between the joint tenants as a factor sounding only in family law and constitutional law.Principal residence exemptions exist in federal income taxation and state constitution property-tax provisions. The nature of the estate in land generally does not matter so much as who the legal owner(s) are, such as whether or not there is a qualified principal residence trust involved.

If you’re married and own a home, what is the difference between a living trust for your spouse and joint tenancy with right of survivorship?

Here’s the non-legal advice answer.A trust covers much more than simply who gets the house if I die.Generally, it would outline how all various assets would be managed, distributed, invested, or whatever you choose for your legacy.Another important point is while not pleasant to think about, you and your wife could die together in an accident. Then what?Your Trust has outlined virtually every what if. It gives you the peace of mind knowing you still had control, even after passing.

What is my role as a trustee for a minor in a joint tenancy with right of survivorship? Does this mean that when she turns 18, I am no longer a joint tenant and she becomes the sole tenant?

A joint tenancy (joint ownership) is multiple people on a deed. In this case, the minor is one of the people. Right of survivorship means the property passes to the surviving deeded owners upon the death of another owner. You see this most often with a husband and wife - one dies and the other becomes sole owner without having to probate the estate.The trustee acts on behalf of the minor until she turns 18. The trustee is not the joint tenant - the minor is the joint tenant. This is most often seen with a single parent putting a child on the deed to a property. A trustee has to be used because a minor cannot sign the necessary legal contracts.Unless you are the other party in the tenancy, your role ends when she turns 18. You're done and out of it.

If a Florida condo has parents and a child co-owners under a joint tenancy with rights of survivorship, would the parent gifting share to the child incur any tax incident to a parent/child or a change in status for a parent at Social Security?

A2A - UNKOWN for social security but a very very unwise tax move. The kid does not get a step up in basis upon parents death for the parents half. Presuming it is NOT the kids primary residence.

Before I married my husband, he and his older sister bought a house in NY. The deed type is joint tenants with rights of survivorship. I am starting worry, what if anything happens to my husband, how can I protect my baby and myself?

You are going to have to learn to live with the house being Joint Tenancy and Right-of-Survivor-ship. You and baby are no concern whatsoever to your sister-in-law. The house is an amiable investment between your husband and his sister, and they don’t need you waltzing-in and disrupting their venture.You do not want people to view you as an entitled, self-centered, controlling woman. Your husband should be looking after you in other ways. If he isn’t, then perhaps you married the wrong person, and you should not have made a baby together.You might as well learn now the house is off-limits to you. So stop obsessing over the house before you allow it to destroy your marriage. Sadly I’m afraid it is probably already too late, in as much as you have already allowed it to destroy your own personal integrity. That is if you had any integrity to begin with. Which I doubt.

How do I get out of a joint tenancy with the ex who doesn’t pay for anything and won’t leave?

In California, you would give notice, assuming it is a rental, and leave. Let the landlord worry about evicting your ex.You can't force your ex to leave, as she hasn't violated the agreement you have with her.If you want to stay, offer to pay your ex to leave. Don't sign any commitments, just a cash payment upon actually vacating, meaning all possessions as well.Offer to rent a motel room for a month, under their name. Do NOT put your name on anything for her future living quarters, or you will be stuck with future bills

Approximately how much would I pay for an annuity with a guaranteed monthly tax-free payment to me (no joint survivorship - benefit ends on my death) of $3300 and it has a cost of living rider?

This would depend on your age. It's definitely possible for someone at age 65 to purchase this lifetime income stream with $650,000.The purpose of a living benefit is to avoid annuitization and maintain a cash value. In cases similar to yours it is likely optimal to divide the lump sum into multiple different contracts.Cases like this could involve purchasing a period certain immediate annuity while another contract is in defferment to increase living benefit base.The complexities in the annuity space causes most brokers to just sell the same product to everyone they meet. Planning is the key to effectively using these tools for your intended purpose.Have questions about annuities?Email: logan.bailey@theannuityspecialists.net

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the only good thing about having an account with rights to survivorship or sometimes called joint tenancy with rights to survivorship and sometimes it's called joint with rights of survivorship and you're going to see it designated as ros jtw ros or just sometimes j r os all it means is when somebody dies all that money goes directly to whoever else is on their account it may be a piece of real estate that's owned as joint tenant they get all of it the good thing is it doesn't go through probate because the law says if you own property that way it doesn't go through probate it just goes direct to that person that person can show up at the title company if they're buying the real estate or they're trying to sell it they'll put a deed in their name they can go to the bank the financial institution they'll change that account in the name of that person the problem is is that you may have a will or a trust that says so

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Joint Tenancy Warranty Deed Form

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How to alter and eSign right of survivorship deed florida without hassle

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How to create an eSignature for the right of survivorship

How to make an electronic signature for your Joint Tenancy With Right Of Survivorship Deed Form For Kansas online

How to create an electronic signature for the Joint Tenancy With Right Of Survivorship Deed Form For Kansas in Chrome

How to make an electronic signature for putting it on the Joint Tenancy With Right Of Survivorship Deed Form For Kansas in Gmail

How to create an electronic signature for the Joint Tenancy With Right Of Survivorship Deed Form For Kansas from your smartphone

How to generate an eSignature for the Joint Tenancy With Right Of Survivorship Deed Form For Kansas on iOS

How to generate an eSignature for the Joint Tenancy With Right Of Survivorship Deed Form For Kansas on Android

How to make an electronic signature for your Joint Tenancy With Right Of Survivorship Deed Form For Kansas online

Follow the step-by-step instructions below to eSign your right of survivorship deed florida:

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How to create an electronic signature for the Joint Tenancy With Right Of Survivorship Deed Form For Kansas from your smartphone

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How to alter and eSign right of survivorship deed florida without hassle

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How to create an eSignature for the right of survivorship

How to make an electronic signature for your Joint Tenancy With Right Of Survivorship Deed Form For Kansas online

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How to make an electronic signature for putting it on the Joint Tenancy With Right Of Survivorship Deed Form For Kansas in Gmail

How to create an electronic signature for the Joint Tenancy With Right Of Survivorship Deed Form For Kansas from your smartphone

How to generate an eSignature for the Joint Tenancy With Right Of Survivorship Deed Form For Kansas on iOS

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