Episode 2: Florida Property – Rights of Survivorship and Estate Planning
Welcome back to the Lumsden Law Firm Podcast — where we make Florida law easier to understand, one episode at a time. In today’s episode, we’re exploring “Rights of Survivorship” in property ownership and how it plays a key role in your estate planning strategy.
If you co-own property in Florida — with a spouse, family member, or business partner — understanding how your ownership is legally structured can make a huge difference in what happens after one owner passes away.
Host [Attorney’s Name] breaks down the major types of property ownership in Florida:
Joint Tenancy with Right of Survivorship (JTWROS)
Tenancy by the Entirety (for married couples only)
Tenancy in Common (which doesn’t include survivorship)
We’ll look at how each affects your estate — from bypassing probate to potential tax consequences — and when you might want to consider alternatives like a revocable living trust for more control.
Here’s what you’ll learn in this episode:
How rights of survivorship work in Florida real estate
The key differences between JTWROS, Tenancy by the Entirety, and Tenancy in Common
Pros and cons of using survivorship as an estate planning tool
Situations where a revocable living trust might be the better option
How to choose the right ownership structure for your goals
Whether you’re buying a home with a loved one or reviewing your estate plan, this episode will give you clarity and confidence.
FAQs
Q1: What does “Right of Survivorship” mean in Florida?
A1: It means that when one co-owner of a property passes away, their share automatically transfers to the surviving co-owner(s), skipping probate.
Q2: What’s the difference between Joint Tenancy and Tenancy in Common?
A2: Joint Tenancy includes rights of survivorship — Tenancy in Common does not. With Tenancy in Common, each owner’s share goes to their estate, not the other owners.
Q3: Are there downsides to rights of survivorship?
A3: Yes. Survivorship can override your estate plan and trigger unexpected tax consequences. That’s why trusts are often a safer, more flexible alternative.
