Joint Tenants with Right of Survivorship (JTWROS)
At death, the owner's share passes automatically to the surviving co-owners.
What is Joint Tenants with Right of Survivorship (JTWROS)?
Each joint tenant has an equal, undivided interest. When one dies, their share passes directly to the survivors outside probate and regardless of the will. Common for married couples.
Joint Tenants with Right of Survivorship (JTWROS): a worked example
A couple's JTWROS brokerage account becomes the survivor's alone the moment the first spouse dies.
What is the difference between Joint Tenants with Right of Survivorship (JTWROS) and Tenants in Common (TIC)?
JTWROS = share goes to the surviving owners, bypassing probate. TIC = share goes to the deceased's estate, through probate.
Often confused with Tenants in Common (TIC) - see Joint Tenants with Right of Survivorship (JTWROS) vs Tenants in Common (TIC) side by side.
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Solo 401(k)
A 401(k) for a self-employed owner with no employees other than a spouse.
Defined Benefit Plan
A pension promising a specific benefit; the employer bears the investment risk.
Defined Contribution Plan
An individual account plan whose payout depends on contributions and returns.
403(b) Plan
A salary-deferral plan for public schools and 501(c)(3) nonprofits.
457 Plan
Deferred compensation for state and local government employees.
SIMPLE IRA
A low-cost plan for employers with 100 or fewer employees.
All Retirement Plans, Accounts & Trading terms · Full glossary