How do you hold your property?

Joint tenancy, tenancy in common, and tenancy by the entirety are all ways to hold property in Illinois. When you hold property via tenancy in common with another person, upon the death of one of the co-owners, that share becomes part of the deceased coowner’s estate rather than passing to the other co-owners. That can make a BIG difference! In other words, a committed couple who own property together can run into problems when one of them passes away if the property is held via tenancy in common.

If you are interesting in an estate plan, contact Attorney Bradford Miller for a free consultation.

Posted by Bradford Miller Law, P.C.
Real Estate Law, Landlord Tenant Law, Estate Planning
134 N. LaSalle, Suite 1040
Chicago, IL 60602
312-238-9298
http://www.bradfordmillerlaw.com

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