How can the type of co-ownership I choose help me to protect my assets?
A common mistake people make is to assume that holding title to property jointly with a spouse or adult child means the asset is safe from creditor claims or other threats. That is not always the case. It depends on what type of joint title is used. Certain types of joint ownership protect each owner from claims or liens of the other owner(s). With other types of joint ownership, however, your interest in the property could be at risk because of a lien or claim filed against the co-owner(s).