Avoiding estate taxes on inherited property is one of the keystones of estate planning. In the US, homweowners can add a “Transfer on Death Deed” (TOD) to their property. This allows a property to be transfered to a named beneficiary without going through probate. In Canada, the only way to avoid probate for a property is through joint ownership. Canadians should title assets as joint owners with beneficiaries. Estate planning can be complicated. It’s best done while you’re healthy and don’t think you need to worry about it.
Avoiding Probate in Estate Planning
