Joint Tenants with Right of Survivorship (JTWROS)

A Joint Tenants With Rights Of Survivorship (JTWROS) account is a brokerage account where the other account holder automatically gets everything in the account when the other account-holder dies.

Here's a hint: if you married someone significantly more attractive than you and twenty years younger...don't get this brokerage account.

JTWROS is a joint account that gives equal account access to everyone on the account—all the assets in it and rights to do whatever they want with it (within legal bounds).

JTWROS is common in real estate so that a house can be easily passed onto someone else in the event of a death (often spouses, parent-and-child), without all the messy paperwork and costs involved with transferring the property another way.