One thing to keep in mind is if there are securities that were purchased with your own funds (not community income) such as before your were married or using inherited money. Then if you die the cost basis of the securities is the market value on the date of death if in your name only and inherited by the spouse but if transferred into s joint account it is your original cost basis. That can make a huge difference in the tax that the surviving spouse must pay when selling the securities.
That is a common issue with old securities that were purchased for a very low price but are worth a lot now.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
