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When you’re dealing with the loss of a loved [...]
Right of survivorship is an important legal right that allows property owners to keep property in the event of the co-owner's death. Some states offer right of survivorship in the form of community property. However, community property with right of survivorship has additional restrictions and different tax implications than joint tenancy. Read on to learn more and determine which type of co-ownership is right for you.
Under certain circumstances, personal property may be transferred to the decedent’s successors without a formal probate court process. Under California’s Probate Code Section 13100-13116, the successors in interest may file a small estate affidavit with the person or institution which has custody of the property for personal property with total value under $166,250.