Joint Tenancy

Total 51 Posts

Abatement: What to do if there are insufficient assets in the estate to follow the testators wishes; a cautionary tale

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A review of abatement and how it can affect estate planning…..

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Elder Law, Estate Administration, Estate Administration and Probate Applications, Estate Litigation, Estate Planning, Joint Tenancy, Succession Planning, Wills

Joint Tenancy Tax Issues

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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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Canada Revenue Agency, Estate Planning, Joint Tenancy, Probate Tax

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

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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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Estate Planning, Joint Tenancy, Probate Tax
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