tenants by the entirety

[altadoc]

Also, the more I think about this, complicated estate and asset protection plans usually benefit... (wait for it) the attorney. Maybe I am being too pessimistic, but there aren't a lot of great legal rationales for the plan suggested above.

[jfoxcpacfp]

Also, the more I think about this, complicated estate and asset protection plans usually benefit... (wait for it) the attorney. Maybe I am being too pessimistic, but there aren't a lot of great legal rationales for the plan suggested above.

Yeah, I agree. That’s not the vibe I’ve gotten from this attorney. She seems very down-to-earth and personable, as are most (of the few) Alaskans I’ve I’ve worked with and/or met. But I’ll be the first to admit my radar doesn’t always work😅.

[afan]

The effect of TBE depends on the laws of your state. Some states do not recognize it at all. There, as best I can tell, TBE is the same as JTWROS.

In some states the asset protection of TBE applies only the family home, not to any other property, real or otherwise. You could title your brokerage account as TBE but it would provide no more protection than JTWROS.

In some states you can get asset protection by titling other assets as TBE.

Before going through any trouble retitling, find out the laws in your state. You might be accomplishing nothing by making the switch.

[Zmcallen]

Does a “tenants by the entirety” equivalent exist for car ownership? In other words, if I title my car under both my and my wife’s name, does that afford some greater degree of asset protection?

[Steven Podnos MD CFP]

Your car is perhaps the most important asset NOT to title ATBE. You want to separate automobile liability from each other-if the car is titled ATBE then you are both exposed to any auto liability both solely and jointly

[afan]

Whether a car can be held as TBE depends on your state. Our estates and trusts attorney told us that it would not matter whether the cars were held in individual names or jointly. Again, depends on your state.