Joint ownership is not for everyone

Holding investment assets jointly with others is a popular choice for many Canadians, but one that’s often made without a full understanding of the implications.

There’s no denying that joint ownership can offer some estate planning benefits, it’s just that there may be complications and drawbacks that can often minimize those benefits.

Before placing any asset into joint ownership with another person, it’s imperative that you understand the issues and consequences that could occur in your personal circumstances with a joint account. In some instances, you may find that joint accounts are simply not worth it.