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Category: Asset Protection

Tenancy In Common: How Not To Own Property

Posted October 2, 2018 in Robert M. Kramer, Asset Protection, Estate Planning and Probate

Tenancy In Common: How Not To Own Property 

Copyright © 2018 by Robert M. Kramer 

Here is a typical estate scenario. Father and Mother own their $1,000,000 homestead jointly with right of survivorship.  They have three children- Sam, Stan, and Dora, all in their 50s.  Father dies and the Mother becomes the owner.  Mother dies a few years later intestate. 

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OWNING A VESSEL INDIVIDUALLY- NOT SUCH A GOOD IDEA

Posted November 4, 2014 in , Asset Protection

OWNING A VESSEL INDIVIDUALLY- NOT SUCH A GOOD IDEA

 
Recently, one of our physician clients asked our advice as to proper ownership of a vessel that she was purchasing.
 
We explained that there were two aspects to this.  First, we need to be concerned about the possible loss of the equity in the vessel to a creditor, should she be sued for medical malpractice or for any other reason.  Second, unlike a safe asset- such as stocks and bonds- a vessel is a potential source of liability, should someone be injured.
 

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