For Florida homeowners, especially those who co-own property, the way a deed is structured can be the single most important factor in determining how the property is transferred upon death. The Right of Survivorship Deed—most commonly known as Joint Tenants with Right of Survivorship (JTWROS) or Tenancy by the Entirety (TBE) for married couples—is a powerful but complex legal tool that directly impacts estate planning.

Understanding this type of deed is essential to Protect Florida Seniors and ensure property transfers seamlessly and privately.

The Power of Survivorship – Bypassing Florida Probate

The core benefit of a survivorship deed is its ability to bypass the lengthy, expensive, and public process of probate. In Florida, when a property is titled with the Right of Survivorship, the deceased owner’s share does not become part of their estate; it transfers automatically by operation of law to the surviving owner(s).

1. Joint Tenants with Right of Survivorship (JTWROS)

This title is available to any two or more people, regardless of marital status (friends, family members, or business partners).

• Key Feature: Each owner holds an equal share of the property.
• Transfer: Upon the death of one owner, their interest instantly and equally vests in the remaining joint owners.

2. Tenancy by the Entirety (TBE)

This is an exclusive form of joint ownership only available to married couples in Florida.

• Key Feature: Provides the same right of survivorship as JTWROS, but offers additional creditor protection against the debts of only one spouse.
• Transfer: The property automatically passes to the surviving spouse without probate.

Critical Drawbacks and Hidden Risks

While avoiding probate is a major advantage, survivorship deeds come with significant risks that must be weighed carefully with an estate planning attorney.

3. Loss of Control Over the Property

When you add a joint owner to your deed, you grant them an immediate ownership interest. This means:

• You generally cannot sell, mortgage, or refinance the property without their consent.
• Your share of the property is subject to their creditors. If they face bankruptcy or a lawsuit, a lien could potentially be placed on the property.

4. Bypassing Your Will

A deed with the Right of Survivorship trumps any instructions you leave in your Will or Trust. The property will transfer to the surviving co-owner regardless of what your Will states. For example, if you add a child to your deed for convenience but your Will leaves your house to all three children equally, the house will still go only to the co-owner named on the deed.

Comprehensive Estate Planning & Holiday Tips

Effective planning, particularly for seniors, involves ensuring all documents work together, not just one deed. Taking care of your estate planning around the holidays is a great way to use family gathering time effectively.

5. Holiday Estate Planning Tips

The holidays are a perfect time to take inventory and discuss your wishes with family. These Holiday Estate Planning Tips involve using your time together effectively to check beneficiary forms, gather documents, and ensure your loved ones are prepared for the future.

• Check Beneficiary Forms: Deeds, retirement accounts (IRAs, 401ks), and life insurance policies transfer via beneficiary forms, not your Will. Make sure these are updated.
• Gather Documents: Take this time to show your designated agent where your legal documents (Will, Deeds, POAs) are securely stored.

6. Considering Alternatives

A survivorship deed is not the only way to avoid probate. In Florida, alternatives such as the Lady Bird Deed (Enhanced Life Estate Deed) or placing the property in a Revocable Living Trust often provide greater control and protection while still achieving probate avoidance.

Frequently Asked Questions (FAQs)

Q1: What is the difference between JTWROS and Tenancy in Common in Florida?

JTWROS (Joint Tenants with Right of Survivorship) includes the right of survivorship, meaning the property bypasses probate. Tenancy in Common does not include the right of survivorship, and the deceased owner’s share must go through probate according to their Will or Florida law.

Q2: What are the main Types of Power of Attorney in Florida that relate to property?

The most important is a Durable Power of Attorney, which allows a trusted agent to manage your financial affairs (including property transactions) even if you become incapacitated. This document is essential for financial management when you can no longer act for yourself.

Q3: Can a Right of Survivorship Deed be broken or changed?

Yes. If a property is held as JTWROS, one joint tenant can generally sell or transfer their interest to a third party. This action severs the joint tenancy and automatically converts the ownership into Tenancy in Common, thus eliminating the right of survivorship for all parties involved.

Q4: Does a Survivorship Deed Protect Florida Seniors from Medicaid Recovery?

No. While it avoids probate, it does not protect the property from Medicaid estate recovery claims. Specialized planning, often involving Irrevocable Trusts or other Protect Florida Seniors strategies, is required to address long-term care and Medicaid eligibility.