How does titling assets as joint tenancy with right of survivorship work?

Joint tenancy with right of survivorship (JTWROS) means two or more people own an asset equally, and when one dies, their share passes automatically to the survivor — outside probate. Married couples commonly use it for homes and bank accounts because the transfer is immediate and requires only a death certificate. It's simple and avoids court, but it has trade-offs. The asset is exposed to the co-owner's creditors and divorces, you generally can't redirect your share by will, and adding a non-spouse (like an adult child) as joint owner can trigger gift-tax and capital-gains issues. It also overrides your will, so it must fit your overall plan. For couples it's often fine; for adding others, a TOD/POD designation or a trust is usually cleaner. Confirm the exact deed or account wording, since "joint" without "right of survivorship" may not behave the same way.