Exploring Joint Tenancy Deeds
Hi, I’m Oklahoma attorney Meg Prestidge and today I want to continue my discussion on how can I avoid probate. A common question I get asked by generally a person who is still living who wants to make sure that they don’t leave their loved one in some kind of what they view as a peril which would be to have to probate that estate and find themselves fighting with all of the heirs.
I had mentioned several ways you can avoid probate. One would be of course the joint tenancy warranty deed and in a previous video I went through that just a little more detail. Another way is an instrument called a life estate.
The Joint Tenancy Warranty Deed
So on a life estate instrument what you would do is you would name yourself so it would be you the person calling me and then on the grantee line you would name who you want to inherit the property at your death. And that could be one, two, three, four, it could be ten, it could be any numerous names of grantees. Generally it’s one or two but certainly not limited. And on that you can either list them as joint tenants meaning that they all are going to be jointly owning that property at your death or you can do it as tenants in common. So if you have numerous grantees, even if you have two grantees and you want to list them as joint tenants, you can call or check out our website. It’s www.oklahomawillsandtrust.com and contact me, an OKC probate lawyer and I’ll be happy to go into more detail for you.