What happens to jointly owned property upon my death?

Full question:

could you interpret this passage in a will It says if at the time of my death I am the owner joint owner of any real estate which is registered or issued in the names of myselfand another person or persons as tenants by the entirety or as joint tenants with right of survivorship or which is registered or issue in my name but is payable to or apparently payable to a named beneficiary on my death I declare it to be my intention that all my right title and interest in any such property shall immediately pass to the joint owner co-owner or beneficiary named in any such property whether or not my right title or interest in any such property would by operation of law upon my death vest in or pass to such surviving person. I make this provision in order to eliminate any doubt or question as to the right of any such person apparently entitled thereto to succeed to the full possession and ownership of such property upon my death

• Category: Wills and Estates
• Date: 04/07/2025
• State: Florida

Answer:

Certain assets may not be included in a person's estate and can pass outside of probate. This includes trust assets, transfer-on-death accounts, and property owned by joint tenants, which passes to the surviving tenant under the right of survivorship when one dies. The clause in the will addresses situations where there is both a joint owner and a named beneficiary.

For example, if a husband and wife are joint owners of a bank account and they name their child as a beneficiary, this clause clarifies that the child will inherit the deceased's share of the account, regardless of other legal rules. Thus, if the testator's wishes are followed, the child will become a joint owner of the account with the surviving parent. Without this clause, bank policies might delay the child's ability to inherit until the surviving parent also passes away.