While joint tenancy can provide significant advantages, it can also have unintended consequences. Assets can be exposed to the joint owner's creditors, estate taxes may increase, and income tax advantages might be lost. Other forms of joint ownership, such as tenants in common or community property, may be more appropriate in specific situations.
"Use Joint Tenancy Only with Extreme Caution,"
Marquette Elder's Advisor:
2, Article 8.
Available at: http://scholarship.law.marquette.edu/elders/vol1/iss2/8