The first step in estate planning is to know who owns what so property passes in the manner the customer desires. When assets are not titled correctly, property might not pass to the intended heirs. These neglected heirs can then be, let us say, peeved. Since others now own the property, legal action may be taken against those who allegedly mistitled the assets including brokers. So it is critical

byRoy M. Adams, Senior Chairman of the Trusts & Estates Practice Group