How does “joint tenancy” affect a will?
Joint tenancy with right of survivorship is a legal ownership option that is often used to pass ownership of a home without a will. Just note that joint tenancy can’t replace a will; it will only apply to real property, not other assets. It simply avoids probate for real estate. With this ownership option, the surviving tenant or owner — usually a surviving spouse — becomes the sole owner of the property regardless of what is in a will and outside the probate process. With this type of ownership, the property is not part of the decedent’s estate and not subject to the probate process.
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