Joint Tenancy
Yvonne was an elderly lady, single with no kids, who had a trust leaving most of her estate to her niece Elizabeth. Yvonne’s trust also left a generous cash gift to her best friend Monica and several smaller gifts to relatives other thanElizabeth. Over the years, Yvonne and Monica had often helped each other with their finances when times were rough. They owned a rental house together in joint tenancy with the idea that when one of them died, the other would naturally become the sole owner and could pass the whole property on to her own respective choice of beneficiaries. A...
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