Many estate planning conversations come down to a seemingly simple question: Who gets your assets when you die? But there is another question that can be just as important: How should they receive it?

Adding an adult child as a joint owner on a bank account is one of the most common estate‑planning shortcuts families use. It feels simple. It feels practical. And for many Manitobans, it’s been passed down as “the easy way to avoid probate.”

While it is great to get caught up in the generational fun of the cottage, there are some potential planning opportunities that should not be overlooked.