Where to Check the Form of Property Ownership

When helping your parents write or revise estate planning documents such as wills and trusts, first it's essential to find out the form of ownership -- sole, joint, tenancy in common -- for each element of their property. This is easy, as long as you know where to look. For real estate, check the deed. For bank accounts, check the passbook or the registration card on file with the bank. For brokerage accounts, look at the account statement. For cars, boats, or other vehicles, see the title or registration slip. And for individual stocks or bonds, check the stock certificate or the face of the bond.

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Definition of Estate Planning

The process of preparing for the administration and disposition of your parent's assets -- including investments, retirement savings, insurance policies, and real estate interests -- after he dies.

See Also

1. Estate Planning Related Content
2. Legal
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4. Financial Planning