Can the way I title an asset help protect the asset?

Care should always be taken when deciding how to hold title to property that is jointly owned. Each state determines what types of joint ownership are recognized and to what extend the owners are protected from claims against co-owners. Certain types of joint ownership protect each owner from claims or liens of the other owner(s). With other types of joint ownership, however, your interest in the property could be at risk because of a lien or claim filed against the co-owner(s). Make sure you understand what type of joint ownership to have and how that type of title does, or does not, protect you.