Blog Post by Melissa Platt, Esq.
It’s finally here—the long-awaited second installment in this two-part article on joint ownership! As a brief refresher, we’re talking here about the serious unintended consequences of using joint ownership (to be technical, joint tenancy with rights of survivorship or JTWROS) as a replacement for estate planning.
Example: Mom adds the name of trusted adult Son to her checking and savings accounts to allow Son access to these accounts to pay bills. Mom and Son have an understanding that when Mom dies, Son will distribute the money in the accounts to all the siblings equally. (Or Mom could also add Son’s name to the title of her home, CDs, money market accounts, brokerage accounts, etc.)
The Deseret News ran an 
I often have clients ask me to include some language in a Will or Trust instrument that threatens their kids with disinheritance if any of them start a fight over the Will or Trust. Such language is commonly known as "penalty," "no-contest," or "in terrorem" clauses. I'm always willing to do so as long as my clients understand the probable outcome of any attempt to enforce such a provision.
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