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Investment account held as tenants by the entirety?

What are the advantages and disadvantages of titling an investment account as tenacy by the entirety rather than joint tenants with right of survivorship? This is for a married couple.

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I'm pretty sure that Massachusetts is one of the states that allow married couples to take personal property, such as bank and retirement accounts, as tenants by the entirety.  The main advantage of that arrangement is that an account held as tenants by the entirety would be immune from claims of creditors of either spouse for contract or tort liability.  Of course, the account would not be immune from claims made by creditors of both spouses, such as a contract signed by both.

On the other hand, if the account is held by the couple as joint tenants with rights of survivorship, if one spouse is sued the judgment creditor may be allowed by a court to force the sale of the jointly owned property and to gain access to that portion of the account owned by the debtor.

Having said all that, I'm afraid I do not have an opinion about your unique situation, simply because I do not know what that situation is.  Maybe others will offer an opinion on the matter, but I would defer to the advice given to you by your financial advisor, someone who understands the nature of your assets and how they all fit into your financial plan.

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