Couples think beyond tax savings of joint assets
Couples should focus on establishing shared ownership of assets and developing a continuity plan to access these in case of emergencies. It's crucial to clearly identify the funding…
Attributed summary
Couples should focus on establishing shared ownership of assets and developing a continuity plan to access these in case of emergencies. It's crucial to clearly identify the funding sources for joint properties to avert any tax conflicts. Supreme Court rulings clarify that a nominee serves as a custodian rather than an owner. Drafting a Will detailing asset ownership helps avert disputes among nominees and legal heirs.
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