Joint tenancy as a form of joint property ownership is used to avoid probate but it is not effective to avoid estate taxes.

Name: Joint tenancy as a form of joint property ownership is used to avoid probate but it is not effective to avoid estate taxes.
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Question

Joint tenancy as a form of joint property ownership is used to avoid probate but it is not effective to avoid estate taxes.​

Quizplus · Accepted Answer

Joint tenancy allows property to pass to the surviving owners without going through probate, but the value of the decedent's share is still included in their estate for estate tax purposes.

Joint Tenancy as a Form of Joint Property Ownership Is