Legal Question in Wills and Trusts in Florida

Re: Will or Title tenancy

When an unmarried couple buys real estate and takes title as tenants in common with right of survivorship, the property would pass to the surviving person upon the death of the other person. The minor children of one could not force the sale of this real property. Still, There are other issues here. While the real property would pass outside of probate and not be part of the probate estate, 1/2 of the value of the property would be part of the decedent's gross estate for taxation purposes. Therefore, depending upon the size of the estate, the people who take under the will (could these be the surviving minor children) may end up paying estate taxes on the value of this property which has passed outside of probate. For your own peace of mind you may want to see an estate planning attorney to discuss this entire matter. Estate planning should look at the big picture and not focus on one particular asset.