How can Tutu safeguard her real estate in Hawaii? If she's married, she can hold title as Tenants by the Entirety, even if she has a trust. Join Meg as she breaks down this often misunderstood method of holding title, exclusively available to married couples and registered reciprocal beneficiaries. You'll gain insights into how this ownership structure not only simplifies the transfer of property upon a spouse's passing but also offers a layer of protection against creditors. If you've ever wondered how to protect your home from individual creditor claims while retaining the benefits of joint ownership, this episode is your essential guide.
But there's more! Discover how legal changes allow you to maintain tenants by the entirety status within a trust, offering both probate avoidance and continued creditor protection. Clients who have successfully navigated these legal frameworks have found peace of mind in tumultuous times. Whether you're a seasoned homeowner or new to the world of real estate, this episode is full of practical advice to help secure your most valuable asset.
In this episode, you will hear:
- What is tenants by the entirety, and how does it protect Tutu's real estate in Hawaii?
- How does tenants by the entirety differ from other forms of property ownership like tenants in common or joint tenants with right of survivorship?
- What legal change allowed tenants by the entirety status to be maintained within a trust?
- How can tenants by the entirety provide creditor protection for married couples or registered reciprocal beneficiaries?
- What steps are necessary to retain tenants by the entirety protection when placing property into a trust?
Resources from this Episode
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