(561) 935-9763
Maura Curran, Attorney
Jupiter, FL 33458

An FLP or Family Limited Partnership, is an entity used in estate planning to organize, gift, and protect assets as well as reduce transfer taxes.

JTWROS is a form of joint ownership with a survivorship feature. Two or more people own an asset together and the survivor of them owns the property outright. For example, Joe and Sam own a house as joint tenants with a right-of-survivorship. Joe dies in a skiing accident. Now, Sam owns the house automatically by operation of law. There’s some “lawyer math” included in JTWROS. Each owner owns 100% of the property, no matter how many joint tenants there are, 2 or 20.