Twenty-two years ago, Kyle and John began dating, and 19 years ago, they began living together. Last
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Twenty-two years ago, Kyle and John began dating, and 19 years ago, they began living together. Last year, Kyle inherited over $9,000,000 from his grandfather. He wants to ensure that if he dies first, John will be taken care of for the rest of his life. Despite your insistence, Kyle does not have a will, and you have advised him previously that state intestacy laws do not protect same-sex partners. Which of the following asset ownership options would fulfill Kyle’s goal of transferring assets to John at his death?
a. Community property.
b. Tenancy in common with each other.
c. Joint tenancy with rights of survivorship.
d. Tenancy by the entirety.
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Related Book For
Fundamentals Of Financial Planning
ISBN: 9781936602094
3rd Edition
Authors: Michael A Dalton, Joseph Gillice
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