Downs Law Firm, P.C.

Estate Planning Lawyer

tenancy by entirety

What Does Tenancy by the Entirety Mean?

Tenancy by the entirety, commonly abbreviated as TBE, is an ownership structure for real estate that’s used when the owners are a married couple. Under a TBE arrangement, each spouse owns an equal interest in the property, and the property will transfer seamlessly to the surviving spouse, in the event of one spouse’s death.

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Customized estate plan

Your Estate Plan Needs to Be Customized

Estate planning documents often are treated like the photocopied permission slip for a child’s field trip. You fill in your name, include the children’s names and dates of birth, and sign. The document is filed away to be used if needed, but you really never expect it to be used.

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tangible items

How Do Children Divide Mom’s Tangible Property?

One of the biggest challenges for anyone administering an estate is how to distribute what are called its tangible items. Unlike other property which can be easily sold, turned into cash and divided equally, tangible property is unique and often can’t be equally split. Its value also often can’t be measured by what it could be sold for. A family photo album may have no monetary value, for instance, but great sentimental significance.

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