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Friday, August 5, 2011

In estate planning, know the hazards of joint ownership

This new article from today's Globe and Mail is essential reading for any of you out there considering putting your home or bank account in joint names with anyone other than your spouse. In this article, the possible outcomes are presented as things that could happen, but I would like to reinforce that they DO happen on a regular basis. Please read this if you've put your home, cottage, investments or any other property in joint names with your children or other people. I strongly recommend that you don't make this kind of title change without discussing it with an estate planning lawyer first. Click here to read the article from Tim Cestnick of the Globe and Mail.

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