Owning your property in joint name with another person is also a simple estate plan. The primary advantage to owning property in joint name is that title passes automatically to the surviving joint tenant when you die. This means your joint tenant doesn't have to hire a lawyer to probate your property after your death. This method of passing property is especially useful for unmarried partners, who do not have the benefits a married couple enjoys.

Many parents put a child's name on property. For example, they may add a child's name to a bank account. This is often done for convenience, to allow that child to assist with bill paying and banking. However, let's say the parent has a will that says, “Divide all of my property equally among my children.” The parent thinks the will controls and overrides joint property rules. That is not true! The joint property, in this case a bank account, belongs only to the child whose name is on the account. You might believe or hope that the child named on the account would divide the property with his siblings, but that is not always the case. You need to be careful in creating a joint tenancy.