Legal Question in Wills and Trusts in Michigan

Yes, and she can also take possession of things while you are alive too. Unless there is ultimate trust, this is a risky move. Visit www.kliszlaw.com to discuss. Tim Klisz

Yes, she would. There are advantages and disadvantages to doing this, though. You should consult with an attorney before making a final decision. http://www.wolverinelaw.com

Joint ownership will give your sister possession of your assets when you die. However, there are many reasons why using joint ownership as the method to do this may not be the wisest choice. Even if you have no concerns about your sister's honesty, if she were to be sued, your assets are at risk. Additionally, if your sister were to become incapacitated, who would have authority over her assets? This same person will have authority over your assets as well. Joint ownership could also cause unintended tax consequences.

In most cases (even without a trust) transfer at death to your chosen beneficiaries, without the need for probate, can be accomplished without exposing yourself or your estate to these risks. Finally, to learn how to best protect yourself and your estate you should seek the advice of an experienced estate planning attorney.