Legal Question in Wills and Trusts in Colorado

Re: joint tennants and implications for children from previous marriage

If you were to transfer title to your property to yourself and your spouse as joint tenants, it will be presumed to be with a right of suvivorship. This means that if either of you were to predecease the other, the survivor would have sole ownership, even if your will provides otherwise. The only way to ensure a testamentary gift to your children from your prior marriage is to make a provision in your will. There are limits as to how much you can give them, because Colorado law grants your spouse the right to receive a certain percentage of your estate. I recommend that you contact an experienced estate planning attorney to schedule an appointment to review your situation and make specific recommendations for your estate plan. I would be happy to help. Please feel free to contact me.

Re: joint tennants and implications for children from previous marriage

You should not change the title to your property before receiving the advice of a qualified estate attorney. If you do, you will create rights in that property in a person that you might not want to. Moreover, if the property is changed to joint tenancy with another person and you die, then that person would own the entire property. This might not be the result you wish to create.