All About Estates

Tag: Joint Tenancy

Total 4 Posts

Life Insurance Joint Tenants[1]

I think it is fair to say that joint ownership of property[2] is one of the most commonly used strategies for property ownership in the context of developing an estate plan.  Like any form of partnership, there are many issues to consider in jointly owning property.  In the context of…

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Tenants in Common – A Difficult Sell

You can sever your interest, but not your relationship, with a joint owner of property.

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Joint Tenancy Tax Issues

Last week my colleague, Laura West, spoke about some of the non-tax pitfalls that can arise when transferring property into joint tenancy with a family member. This week I’m here to follow-up with a discussion of the tax implications that should be considered before changing ownership of property to joint tenancy.

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Probate Tax Planning – Joint Tenancy May Not Always Be the Best Option

In Ontario, property that a deceased owns as a joint tenant with another person does not form part of his estate for probate tax calculation purposes. As a result, significant attention is now being paid to the use of joint ownership as an estate planning technique to reduce or avoid probate taxes for both real and personal property. However, when property is transferred into joint ownership there are many issues that should be considered other than the potential probate tax savings.

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