Dear XXXXXXXX - It is impossible to say with generality if one is more advantageous than the other. It all depends on what goal you are trying to achieve. A trust obviously does not convey complete control of the assets to the beneficiary whereas a POD account transfers the assets to the individual with no strings attached.
If the goal is to protect the assets from a minor or young adult acquiring control too early then the trust would be the means to use however if you simply wanted the person to have the asset free and clear then a POD account would be more useful. Every situation is different and must be analyzed on its own terms.
David Kennett - JD - Attorney at Law
Attorney
25 years practicing attorney
I am assuming you are contemplating a joint with right to survivorship deed whereby your sons automatically get the property upon your death. If they don't want the property then you can just allow it to pass into your estate. In any event they can't be forced to accept the property and they are not liable for your debts. If the property goes into the estate then the estate would be responsible for any of the debts rather than your sons individually. You may want to consult with an estate planner to review your entire situation.
Dave Kennett