Legal Question in Wills and Trusts in Wisconsin
Ownership of Joint Tenancy securities
Some of my father's stock securities show joint tenancy with rights of survivorship listing a sibling. At my father's death, are the stock securities a part of his estate, to be split among the siblings, or does the joint tenant become the sole owner of the securities exclusive of my father's will.
2 Answers from Attorneys
Re: Ownership of Joint Tenancy securities
Anything that is held as joint tenants immediately goes to the surviving person named on the asset. For example, homes can be held as husband and wife as joint tenants so that if one spouse dies, the other spouse immediately has ownership of the entire house. The same is true for depository accounts and securities. The stocks will not be part of the estate, but immediately are the solely owned property of that sibling.
Re: Ownership of Joint Tenancy securities
Aside from issues such as fraud or whether the
funds to acquire the securities might have come
from the sibling, it would appear that the assets
pass to the sibling outside of probate.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
