Does jointly owned property always avoid Probate?

Joint Ownership doesn't always avoid Probate, it may only delay Probate. When the first joint owner dies, Probate is avoided. However, when the second owner dies, if they don't have a joint owner to pass the property to, and Probate is required. The joint owner is legally entitled to have full access to and control over the jointly owned assets. For example, if a parent adds their child to their bank accounts in order to avoid Probate, then the child can use that account like it belongs to them. The jointly owned property is subject to the creditors of the joint owner. If the joint owner has a judgment entered against them, or files bankruptcy, or has any other creditor issues, then the jointly owned property can be taken by the creditor in satisfaction of the joint owner's debt.

Lou: Thank you for taking my call. My mother and I live together. My mother’s 94, I’m 70. Right now, her health is bad. We own a house together and both names are on the title. We also have a bank account with both names on it. If my mom dies, will these assets go through probate?

Attorney Tom Olsen: You’re not going to have any problems with the joint bank account. If your mom passes away, you still have access to all the money in the bank account. I know that both of your names are on the deed to the property. But the key is that, after your names, are there these magic words “joint tenants with rights of survivorship?” If those magic words are after your names, and your mom passes away, it automatically belongs to you with no probate.

If, after both of your names on the deed, there are no words or the words “tenants in common” and your mom passes away, her one half interest in the home will have to go through probate. We’re talking about property in Florida, right?

Lou: Yes.

Attorney Tom Olsen: You can call us and we can look at your deed online. We can see exactly what’s going on. We can tell you whether or not you are okay or whether or not some work needs to be done on that deed in order for you to avoid probate.

Lou: Okay. So that is on the deed. It actually should be printed on the deed. Is that right?

Attorney Tom Olsen: Absolutely. Look at the original deed and you’ll see both your names. After your names, you’re looking for the magic words “joint tenants’ rights of survivorship.” Lou, if you can’t figure it out, call us. We’ll look at your deed online. We’ll tell you what’s going on.
In addition, it’s important to consider the following with regard to joint property:
1. Joint Ownership doesn't always avoid Probate, it may only delay Probate. When the first joint owner dies, Probate is avoided. However, when the second owner dies, if they don't have a joint owner to pass the property to, and Probate is required.

2. The joint owner is legally entitled to have full access to and control over the jointly owned assets. For example, if a parent adds their child to their bank accounts in order to avoid Probate, then the child can use that account like it belongs to them. 

3. The jointly owned property is subject to the creditors of the joint owner. If the joint owner has a judgment entered against them, or files bankruptcy, or has any other creditor issues, then the jointly owned property can be taken by the creditor in satisfaction of the joint owner's debt.