Adding Your Child to the Family Cabin Title: A Costly Estate Planning Mistake

Many families believe that adding a child to the title of a family cabin is a simple way to avoid probate and reduce taxes. Unfortunately, this strategy often creates more problems than it solves.In this episode, Jason Nagel breaks down why adding a child as a joint owner of your family cabin can trigger unexpected capital gains taxes, misuse your principal residence exemption, expose the property to your child’s creditors, and disrupt your estate plan altogether.You’ll learn:Why adding a child to title can create an immediate tax liabilityThe hidden creditor and divorce risks many families overlookWhy your will may no longer work the way you expectIf you own recreational property or are thinking about passing assets to the next generation, this episode highlights why proper tax and estate planning is essential before making any ownership changes.Learn more about our Family Office approach at: https://three60wealth.ca/family-office/Follow Family Office Insider for practical planning insights designed to help business owners and families protect what they’ve built.