My husband and I own some hunting land up north Minnesota as joint tenants. After his passing, I became the sole owner. I am thinking about adding my sons to the deed so we would all be joint tenants. I heard this will avoid probate when I die. Is a joint tenancy a good idea?
If your only concern is avoiding probate, transferring the property to a joint tenancy with your sons will accomplish this and is a commonly-used tool, but there may be a better way to accomplish the same result.