{"id":182796,"date":"2025-04-13T13:28:27","date_gmt":"2025-04-13T13:28:27","guid":{"rendered":"https:\/\/peraltafinancing.com\/business\/investing\/joint-accounts-with-adult-children-smart-estate-planning-or-big-mistake\/"},"modified":"2025-04-13T13:28:27","modified_gmt":"2025-04-13T13:28:27","slug":"joint-accounts-with-adult-children-smart-estate-planning-or-big-mistake","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=182796","title":{"rendered":"Joint accounts with adult children: Smart estate planning or big mistake?"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p>Should you add your adult child to your bank account or property title? It might seem like a simple solution to help with estate planning, but joint ownership can introduce legal risks and tax consequences you may not be aware of, not to mention potential family conflict. &#13;<br \/>\nIn this <em>Coffee Break<\/em>, we welcome estate lawyer <a href=\"https:\/\/westcoastwills.com\/about\/team\/mike-beishuizen\/\">Mike Beishuizen<\/a>, founding principal of West Coast Wills in Vancouver, to discuss the good, the bad, and the ugly of joint ownership. Mike explains the risks, probate myths, tax traps, and how to protect your legacy with a power of attorney.<\/p>\n<p> &#13;<br \/>\n    <iframe loading=\"lazy\" title=\"Joint Ownership with Your Children: What Every Canadian Needs to Know\" width=\"840\" height=\"473\" src=\"https:\/\/www.youtube.com\/embed\/R0rbbEeq9bU?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe> &#13;\n  <\/p>\n<\/p><\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>Should you add your adult child to your bank account or property title? It might seem like a simple solution to help with estate planning, but joint ownership can introduce legal risks and tax consequences you may not be aware of, not to mention potential family conflict. &#13; In this Coffee Break, we welcome estate [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[96],"tags":[11074,732,1022,680,4856,7599,11393,10922,576],"dealstore":[],"offerexpiration":[],"class_list":["post-182796","post","type-post","status-publish","format-standard","hentry","category-investing","tag-accounts","tag-adult","tag-big","tag-children","tag-estate","tag-joint","tag-mistake","tag-planning","tag-smart"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Joint accounts with adult children: Smart estate planning or big mistake? - Som2ny Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fivemor.com\/?p=182796\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Joint accounts with adult children: Smart estate planning or big mistake? - Som2ny Network\" \/>\n<meta property=\"og:description\" content=\"Should you add your adult child to your bank account or property title? It might seem like a simple solution to help with estate planning, but joint ownership can introduce legal risks and tax consequences you may not be aware of, not to mention potential family conflict. &#013; In this Coffee Break, we welcome estate [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fivemor.com\/?p=182796\" \/>\n<meta property=\"og:site_name\" content=\"Som2ny Network\" \/>\n<meta property=\"article:published_time\" content=\"2025-04-13T13:28:27+00:00\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/fivemor.com\/?p=182796#article\",\"isPartOf\":{\"@id\":\"https:\/\/fivemor.com\/?p=182796\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\/\/fivemor.com\/#\/schema\/person\/b85e3c3dc0e1daea076524dc8810c371\"},\"headline\":\"Joint accounts with adult children: Smart estate planning or big mistake?\",\"datePublished\":\"2025-04-13T13:28:27+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/fivemor.com\/?p=182796\"},\"wordCount\":120,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/fivemor.com\/#organization\"},\"keywords\":[\"Accounts\",\"Adult\",\"Big\",\"Children\",\"Estate\",\"Joint\",\"Mistake\",\"Planning\",\"Smart\"],\"articleSection\":[\"Investing\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/fivemor.com\/?p=182796#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fivemor.com\/?p=182796\",\"url\":\"https:\/\/fivemor.com\/?p=182796\",\"name\":\"Joint accounts with adult children: Smart estate planning or big mistake? 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